Posted by admin on Apr 29th, 2022

Caterpillar (NYSE:CAT – Get Rating) announced its earnings results on Thursday. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.28, MarketWatch Earnings reports. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.49 billion. Caterpillar had a net margin of 12.73% and a return on equity of 35.57%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.87 EPS.

Caterpillar stock opened at $212.44 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.46 and a quick ratio of 0.99. Caterpillar has a 1-year low of $179.67 and a 1-year high of $246.69. The firm has a market capitalization of $113.84 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96. The company’s 50-day moving average is $213.29 and its 200 day moving average is $208.32.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, April 25th will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, April 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 37.50%.

In other news, insider Joseph E. Creed sold 5,004 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total transaction of $1,175,940.00. Following the transaction, the insider now directly owns 2,757 shares of the company’s stock, valued at $647,895. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Suzette M. Long sold 40,356 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $220.00, for a total transaction of $8,878,320.00. The disclosure for this sale can be found here. Insiders sold a total of 49,850 shares of company stock worth $11,087,916 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of CAT. Morgan Stanley increased its position in shares of Caterpillar by 16.6% during the second quarter. Morgan Stanley now owns 5,070,449 shares of the industrial products company’s stock worth $1,103,482,000 after acquiring an additional 721,439 shares during the period. Toroso Investments LLC boosted its stake in shares of Caterpillar by 340.9% during the fourth quarter. Toroso Investments LLC now owns 23,555 shares of the industrial products company’s stock valued at $4,870,000 after purchasing an additional 18,213 shares in the last quarter. River & Mercantile Asset Management LLP bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $683,000. Thrivent Financial for Lutherans boosted its stake in shares of Caterpillar by 2.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 126,168 shares of the industrial products company’s stock valued at $27,069,000 after purchasing an additional 2,427 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Caterpillar by 22.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 10,668 shares of the industrial products company’s stock valued at $2,206,000 after purchasing an additional 1,944 shares in the last quarter. 67.11% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company began coverage on shares of Caterpillar in a research note on Friday, March 11th. They set an “equal weight” rating and a $231.00 target price for the company. StockNews.com began coverage on shares of Caterpillar in a research report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, March 28th. UBS Group boosted their price objective on shares of Caterpillar from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 12th. Finally, Citigroup boosted their price objective on shares of Caterpillar from $225.00 to $230.00 in a research report on Thursday, January 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $241.35.

Caterpillar Company Profile (Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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