Caterpillar (NYSE:CAT) Releases Quarterly Earnings Results, Beats Estimates By $0.48 EPS

Caterpillar (NYSE:CAT) posted its earnings results on Thursday. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48, reports. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion.

Caterpillar Stock Up 1.6 %

Caterpillar stock opened at $343.37 on Friday. The firm has a market capitalization of $171.48 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.51 and a beta of 1.17. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.41. Caterpillar has a twelve month low of $204.04 and a twelve month high of $382.01. The stock’s fifty day simple moving average is $350.10 and its 200-day simple moving average is $300.80.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a $1.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.51%. Caterpillar’s dividend payout ratio is presently 23.48%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Maclennan acquired 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The stock was purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now directly owns 5,238 shares in the company, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Over the last three months, insiders sold 35,769 shares of company stock worth $11,508,906. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the first quarter worth approximately $27,000. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter worth $26,000. Richardson Financial Services Inc. purchased a new stake in Caterpillar in the fourth quarter valued at $27,000. Vima LLC acquired a new position in Caterpillar in the fourth quarter valued at $30,000. Finally, Gilfoyle & Co LLC purchased a new position in shares of Caterpillar during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley started coverage on shares of Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target for the company. TD Cowen boosted their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Wells Fargo & Company upped their target price on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Truist Financial initiated coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $310.83.

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.