Caterpillar Inc. (NYSE:CAT) Short Interest Down 7.8% in November

Caterpillar Inc. (NYSE:CAT) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 9,760,000 shares, a decline of 7.8% from the October 31st total of 10,590,000 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 2,350,000 shares, the days-to-cover ratio is currently 4.2 days.

Caterpillar Stock Down 0.8 %

Shares of NYSE:CAT traded down $3.27 during midday trading on Tuesday, hitting $399.24. The stock had a trading volume of 1,713,966 shares, compared to its average volume of 2,111,081. The company has a market cap of $192.75 billion, a P/E ratio of 18.51, a PEG ratio of 1.99 and a beta of 1.10. Caterpillar has a 12 month low of $252.42 and a 12 month high of $418.50. The business’s 50-day simple moving average is $392.26 and its 200-day simple moving average is $358.40. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the business earned $5.52 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, sell-side analysts forecast that Caterpillar will post 21.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.41%. Caterpillar’s payout ratio is presently 26.15%.

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Citigroup lowered their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $365.33.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now directly owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 in the last 90 days. 0.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently made changes to their positions in CAT. International Assets Investment Management LLC raised its holdings in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares in the last quarter. Altshuler Shaham Ltd raised its stake in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its stake in Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after buying an additional 205,012 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Caterpillar by 34.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after acquiring an additional 200,210 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

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.