Short Interest in Caterpillar Inc. (NYSE:CAT) Decreases By 15.9%

Caterpillar Inc. (NYSE:CAT) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 9,061,400 shares, a decrease of 15.9% from the May 15th total of 10,776,200 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 4,100,000 shares, the short-interest ratio is currently 2.2 days.

CAT has been the topic of several analyst reports. Morgan Stanley set a $165.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 10th. Zacks Investment Research downgraded GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. Deutsche Bank decreased their target price on Trinseo from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Atlantic Securities downgraded W W Grainger from a “neutral” rating to an “underweight” rating in a research report on Friday, June 21st. Finally, Bank of America set a $152.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $145.39.

NYSE CAT opened at $138.36 on Friday. The firm has a market capitalization of $79.12 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.94 and a beta of 1.54. Caterpillar has a twelve month low of $112.06 and a twelve month high of $159.37. The firm has a fifty day moving average of $129.24. The company has a quick ratio of 0.98, a current ratio of 1.43 and a debt-to-equity ratio of 1.57.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.10. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. The firm had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the business posted $2.82 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar will post 12.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a $1.03 dividend. The ex-dividend date is Friday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 annualized dividend and a dividend yield of 2.98%. Caterpillar’s dividend payout ratio (DPR) is currently 30.66%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Clarfeld Financial Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at about $26,000. Paragon Capital Management LLC bought a new position in shares of Caterpillar during the 1st quarter worth approximately $40,000. PRW Wealth Management LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $43,000. Legacy Advisors LLC bought a new position in shares of Caterpillar during the 1st quarter worth approximately $47,000. Finally, Murphy Pohlad Asset Management LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $48,000. Institutional investors own 65.45% of the company’s stock.

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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