Caterpillar (NYSE:CAT) Issues Earnings Results

Caterpillar (NYSE:CAT) announced its quarterly earnings results on Thursday. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17, Zacks reports. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%.

Caterpillar Stock Performance

Shares of CAT traded down $12.70 during midday trading on Thursday, reaching $380.54. The stock had a trading volume of 1,140,876 shares, compared to its average volume of 2,140,827. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a 50 day simple moving average of $381.43 and a 200-day simple moving average of $370.62. The firm has a market cap of $183.72 billion, a PE ratio of 17.61, a P/E/G ratio of 1.97 and a beta of 1.13. Caterpillar has a one year low of $299.93 and a one year high of $418.50.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Analyst Ratings Changes

Several analysts have commented on CAT shares. Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup lowered their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Truist Financial decreased their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $384.60.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the transaction, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,868 shares of company stock worth $13,480,389. Insiders own 0.29% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.