Stock Traders Buy Large Volume of Put Options on Caterpillar (CAT)

Caterpillar, Inc. (NYSE:CAT) was the target of some unusual options trading activity on Friday. Stock traders acquired 27,892 put options on the company. This represents an increase of 293% compared to the average volume of 7,093 put options.

Shares of Caterpillar (NYSE:CAT) opened at 128.19 on Wednesday. The firm’s 50-day moving average is $121.39 and its 200 day moving average is $108.72. Caterpillar has a 52 week low of $80.33 and a 52 week high of $128.29. The firm has a market cap of $75.76 billion, a PE ratio of 716.15 and a beta of 1.25.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Caterpillar will post $5.25 EPS for the current year.

Several equities analysts recently commented on the stock. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $124.44 price objective for the company in a research report on Tuesday. Goldman Sachs Group, Inc. (The) increased their price objective on shares of Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $121.00 price objective (up from $120.00) on shares of Caterpillar in a research report on Monday. Credit Suisse Group reissued a “hold” rating and set a $133.00 price target on shares of Caterpillar in a research report on Friday, September 22nd. Finally, ValuEngine lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $115.98.

In related news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Insiders sold a total of 201,471 shares of company stock worth $22,979,332 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. S. R. Schill & Associates boosted its stake in shares of Caterpillar by 0.3% during the first quarter. S. R. Schill & Associates now owns 2,204 shares of the industrial products company’s stock valued at $204,000 after acquiring an additional 6 shares during the last quarter. Northstar Group Inc. boosted its stake in Caterpillar by 0.3% in the 2nd quarter. Northstar Group Inc. now owns 2,385 shares of the industrial products company’s stock worth $256,000 after buying an additional 8 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Caterpillar by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 3,635 shares of the industrial products company’s stock worth $337,000 after buying an additional 10 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in Caterpillar by 0.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 3,915 shares of the industrial products company’s stock worth $421,000 after buying an additional 10 shares during the last quarter. Finally, Ironwood Investment Counsel LLC boosted its stake in Caterpillar by 0.3% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 3,425 shares of the industrial products company’s stock worth $368,000 after buying an additional 10 shares during the last quarter. 69.24% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Stock Traders Buy Large Volume of Put Options on Caterpillar (CAT)” was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://stocknewstimes.com/2017/10/11/stock-traders-buy-large-volume-of-put-options-on-caterpillar-cat.html.

About Caterpillar

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply