Caterpillar Sees Unusually High Options Volume (NYSE:CAT)

Caterpillar Inc. experienced unusual options trading with 28,236 call options purchased, a 50% increase from the average. Analysts have upgraded the stock, with target prices reaching up to $680. Insider trading saw significant stock sales, and institutional investors adjusted their stakes. The stock hit an all-time high, trading at $582.68, with a market cap of $272.68 billion.

Caterpillar Inc. (NYSE:CAT - Get Free Report) saw some unusual options trading activity on Tuesday. Stock traders acquired 28,236 call options on the company. This represents an increase of approximately 50% compared to the typical daily volume of 18,832 call options.

Wall Street Analysts Forecast Growth

Caterpillar Stock Could Top $650 by Year’s End

Several equities analysts have recently commented on CAT shares. HSBC raised shares of Caterpillar from a "hold" rating to a "buy" rating and boosted their target price for the stock from $405.00 to $660.00 in a report on Wednesday, November 5th. Hsbc Global Res raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 6th. Robert W. Baird lifted their target price on Caterpillar from $612.00 to $680.00 and gave the stock an "outperform" rating in a report on Thursday, October 30th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada began coverage on Caterpillar in a report on Wednesday, October 22nd. They set a "sector perform" rating and a $560.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $610.32.

Read Our Latest Research Report on Caterpillar

Insider Buying and Selling

From Bulldozers to Big Data: Caterpillar’s Bull Case Gets a Lift

In related news, CAO William E. Schaupp sold 1,200 shares of the company's stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer owned 1,323 shares of the company's stock, valued at approximately $757,047.06. This represents a 47.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 14,638 shares of the business's stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the transaction, the insider owned 80,209 shares in the company, valued at $45,106,333.24. The trade was a 15.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,061 shares of company stock worth $36,234,966 in the last three months. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC grew its stake in Caterpillar by 1,060.0% in the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company's stock worth $28,000 after purchasing an additional 53 shares in the last quarter. Joseph Group Capital Management bought a new stake in shares of Caterpillar in the third quarter valued at about $32,000. Kilter Group LLC purchased a new stake in Caterpillar in the second quarter worth about $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Caterpillar during the 2nd quarter worth about $28,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Caterpillar in the 3rd quarter valued at about $35,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 2.6%

Caterpillar Stock Hits All-Time High—Is There More Room to Run?

Caterpillar stock traded up $14.62 during midday trading on Tuesday, reaching $582.68. The stock had a trading volume of 2,217,332 shares, compared to its average volume of 2,779,164. Caterpillar has a 52-week low of $267.30 and a 52-week high of $596.21. The company has a fifty day moving average of $532.35 and a 200 day moving average of $446.34. The firm has a market cap of $272.68 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 3.33 and a beta of 1.57. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the prior year, the business posted $5.17 earnings per share. The company's revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts anticipate that Caterpillar will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, October 20th. Caterpillar's payout ratio is currently 31.01%.

About Caterpillar

(Get Free Report)

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.

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