Caterpillar (NYSE:CAT) Shares Gap Down to $363.52

Caterpillar Inc. (NYSE:CAT - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $363.52, but opened at $330.44. Caterpillar shares last traded at $337.79, with a volume of 2,249,267 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on CAT shares. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They issued a "buy" rating and a $390.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Caterpillar from $385.00 to $435.00 and gave the stock an "overweight" rating in a report on Tuesday, April 16th. Robert W. Baird upped their price objective on Caterpillar from $210.00 to $257.00 and gave the stock an "underperform" rating in a report on Tuesday, February 6th. Citigroup boosted their target price on Caterpillar from $255.00 to $340.00 and gave the company a "neutral" rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group increased their target price on Caterpillar from $357.00 to $408.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $307.56.

Caterpillar Trading Down 7.0 %

The company has a fifty day simple moving average of $349.67 and a two-hundred day simple moving average of $300.30. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $168.92 billion, a PE ratio of 16.79, a P/E/G ratio of 1.62 and a beta of 1.17.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.47. The business had revenue of $17.07 billion during the quarter, compared to analysts' expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.86 EPS. Analysts anticipate that Caterpillar Inc. will post 21.32 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.54%. Caterpillar's dividend payout ratio (DPR) is presently 25.82%.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares of the company's stock, valued at approximately $17,774,001.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The disclosure for this sale can be found here. Insiders sold a total of 35,769 shares of company stock valued at $11,508,906 in the last three months. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caterpillar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Q3 Asset Management bought a new position in shares of Caterpillar in the first quarter valued at $310,000. Lindbrook Capital LLC grew its holdings in shares of Caterpillar by 3.5% during the 1st quarter. Lindbrook Capital LLC now owns 5,736 shares of the industrial products company's stock valued at $2,102,000 after acquiring an additional 196 shares in the last quarter. Lodestar Private Asset Management LLC grew its holdings in shares of Caterpillar by 11.7% during the 1st quarter. Lodestar Private Asset Management LLC now owns 927 shares of the industrial products company's stock valued at $340,000 after acquiring an additional 97 shares in the last quarter. Human Investing LLC purchased a new position in shares of Caterpillar during the 1st quarter valued at $210,000. Finally, Center for Financial Planning Inc. grew its holdings in shares of Caterpillar by 40.0% during the 1st quarter. Center for Financial Planning Inc. now owns 350 shares of the industrial products company's stock valued at $128,000 after acquiring an additional 100 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.