October 22, 2021

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Short Interest in Caterpillar Inc. (NYSE:CAT) Increases By 31.8%

Caterpillar Inc. (NYSE:CAT) was the target of a significant growth in short interest in the month of August. As of August 13th, there was short interest totalling 9,030,000 shares, a growth of 31.8% from the July 29th total of 6,850,000 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 3,720,000 shares, the days-to-cover ratio is currently 2.4 days.

In other news, insider Joseph E. Creed sold 7,699 shares of Caterpillar stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $245.12, for a total value of $1,887,178.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Maclennan purchased 500 shares of the stock in a transaction dated Wednesday, August 4th. The stock was bought at an average cost of $206.20 per share, with a total value of $103,100.00. The disclosure for this purchase can be found here. Company insiders own 0.18% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG boosted its stake in Caterpillar by 13.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 36,777 shares of the industrial products company’s stock worth $8,004,000 after purchasing an additional 4,233 shares during the period. Marshall Wace LLP boosted its stake in Caterpillar by 115.6% in the 2nd quarter. Marshall Wace LLP now owns 90,296 shares of the industrial products company’s stock worth $19,652,000 after purchasing an additional 48,416 shares during the period. Marshall Wace North America L.P. boosted its stake in Caterpillar by 19.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 75,521 shares of the industrial products company’s stock worth $16,436,000 after purchasing an additional 12,312 shares during the period. Accurate Wealth Management LLC purchased a new stake in shares of Caterpillar during the 2nd quarter worth approximately $468,000. Finally, EP Wealth Advisors LLC raised its holdings in shares of Caterpillar by 9.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 4,492 shares of the industrial products company’s stock worth $978,000 after acquiring an additional 375 shares in the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

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CAT has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Caterpillar from $222.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, May 3rd. Tigress Financial reissued a “buy” rating and issued a $270.00 target price on shares of Caterpillar in a research report on Friday, August 6th. Credit Suisse Group decreased their target price on Caterpillar from $268.00 to $256.00 and set an “outperform” rating for the company in a research report on Monday, August 2nd. Zacks Investment Research lowered Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price for the company. in a research report on Wednesday, June 30th. Finally, UBS Group boosted their target price on Caterpillar from $230.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $233.80.

Shares of NYSE:CAT traded down $0.15 during mid-day trading on Monday, reaching $212.68. 80,678 shares of the company traded hands, compared to its average volume of 3,393,237. The stock’s 50 day simple moving average is $212.39. The company has a market capitalization of $116.44 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.76 and a beta of 0.91. The company has a current ratio of 1.56, a quick ratio of 1.10 and a debt-to-equity ratio of 1.55. Caterpillar has a 52 week low of $140.91 and a 52 week high of $246.69.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, July 29th. The industrial products company reported $2.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.22. Caterpillar had a return on equity of 30.80% and a net margin of 9.57%. The business had revenue of $12.89 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, analysts forecast that Caterpillar will post 10.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Tuesday, July 20th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.09%. This is an increase from Caterpillar’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, July 19th. Caterpillar’s dividend payout ratio is presently 67.68%.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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