On May 12, 2023 at 15:33:31 ET an unusually large $2,239.69K block of Call contracts in Caterpillar (CAT) was sold, with a strike price of $240.00 / share, expiring in 189 day(s) (on November 17, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.28 sigmas above the mean, placing it in the 99.69th percentile of all recent large trades made in CAT options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 3245 funds or institutions reporting positions in Caterpillar. This is an increase of 204 owner(s) or 6.71% in the last quarter. Average portfolio weight of all funds dedicated to CAT is 0.43%, an increase of 43.97%. Total shares owned by institutions increased in the last three months by 1.86% to 415,384K shares. The put/call ratio of CAT is 1.06, indicating a bearish outlook.

Analyst Price Forecast Suggests 15.62% Upside

As of May 11, 2023, the average one-year price target for Caterpillar is 242.84. The forecasts range from a low of 176.75 to a high of $315.00. The average price target represents an increase of 15.62% from its latest reported closing price of 210.03.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Caterpillar is 62,487MM, an increase of 1.28%. The projected annual non-GAAP EPS is 15.19.

What are Other Shareholders Doing?

Capital World Investors holds 29,091K shares representing 5.64% ownership of the company. In it’s prior filing, the firm reported owning 29,058K shares, representing an increase of 0.11%. The firm increased its portfolio allocation in CAT by 38.78% over the last quarter.

State Farm Mutual Automobile Insurance holds 17,761K shares representing 3.45% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 15,820K shares representing 3.07% ownership of the company. In it’s prior filing, the firm reported owning 15,751K shares, representing an increase of 0.43%. The firm increased its portfolio allocation in CAT by 35.42% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 12,030K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 11,967K shares, representing an increase of 0.53%. The firm increased its portfolio allocation in CAT by 35.22% over the last quarter.

Geode Capital Management holds 9,131K shares representing 1.77% ownership of the company. In it’s prior filing, the firm reported owning 9,021K shares, representing an increase of 1.21%. The firm increased its portfolio allocation in CAT by 36.62% over the last quarter.

Caterpillar Background Information
(This description is provided by the company.)

Since 1925, Caterpillar Inc. has been helping our customers build a better world – making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and provides financing and related services through its Financial Products segment.

See all Caterpillar regulatory filings.

This article originally appeared on Fintel

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