Caterpillar Inc. (NYSE:CAT) Short Interest Down 17.0% in February

Caterpillar Inc. (NYSE:CAT) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 8,302,639 shares, a decrease of 17.0% from the February 12th total of 10,003,029 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average trading volume of 2,813,488 shares, the days-to-cover ratio is currently 3.0 days. Based on an average trading volume of 2,813,488 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wolfe Research raised their price objective on Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Royal Bank Of Canada increased their price target on Caterpillar from $587.00 to $658.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Robert W. Baird set a $805.00 price objective on Caterpillar in a report on Friday, January 30th. Oppenheimer boosted their price objective on Caterpillar from $729.00 to $817.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Finally, Wells Fargo & Company raised their target price on shares of Caterpillar from $756.00 to $870.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $730.50.

Caterpillar Stock Up 0.1%

Caterpillar stock traded up $0.83 during midday trading on Wednesday, reaching $702.83. The stock had a trading volume of 300,828 shares, compared to its average volume of 2,876,059. The stock has a market capitalization of $327.02 billion, a P/E ratio of 37.31, a price-to-earnings-growth ratio of 1.65 and a beta of 1.54. The firm’s fifty day simple moving average is $697.19 and its 200-day simple moving average is $589.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44. Caterpillar has a 1-year low of $267.30 and a 1-year high of $789.81.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.49. The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.14 EPS. As a group, analysts expect that Caterpillar will post 19.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 7,891 shares of Caterpillar stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $776.90, for a total transaction of $6,130,517.90. Following the transaction, the insider owned 46,643 shares of the company’s stock, valued at $36,236,946.70. This trade represents a 14.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Schaupp sold 972 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $764.20, for a total transaction of $742,802.40. Following the transaction, the chief accounting officer owned 824 shares of the company’s stock, valued at approximately $629,700.80. This represents a 54.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 135,950 shares of company stock worth $94,327,990 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Caterpillar by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock worth $26,572,681,000 after purchasing an additional 442,164 shares in the last quarter. State Street Corp lifted its holdings in Caterpillar by 1.1% during the 4th quarter. State Street Corp now owns 35,388,550 shares of the industrial products company’s stock worth $20,273,039,000 after purchasing an additional 385,204 shares during the last quarter. Geode Capital Management LLC boosted its stake in Caterpillar by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company’s stock valued at $6,072,572,000 after purchasing an additional 94,524 shares during the period. Fisher Asset Management LLC grew its holdings in Caterpillar by 0.6% in the 4th quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company’s stock valued at $5,438,408,000 after buying an additional 54,069 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Caterpillar by 16.0% during the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock worth $3,860,457,000 after buying an additional 928,974 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.