$CAT Stock Drops 3% Amid Heavy Trading Volume

Caterpillar stock ($CAT) has taken a hit today, dropping by 3% according to Quiver Quantitative's price data from Polygon. This decline comes with a significant trading volume of approximately $1,160,524,923.

In the last six months, insiders have traded $CAT stock on the open market 26 times, with only one purchase and 25 sales recorded. The largest seller is Group President Lange Bob De, who has sold 24,222 shares for an estimated $22,354,977.

Quiver Quantitative's data also shows that 1,856 institutional investors have added shares of $CAT stock to their portfolio in the last quarter, while 1,791 have decreased their positions. California State Teachers Retirement System has significantly increased its holdings by adding 746,625,522 shares, worth an estimated $795,081,518,377.

Government contracts awarded to Caterpillar totalled $191,841,915 in the last year, with notable awards including a delivery order for $25,914,691 and another for $12,776,326. Members of Congress have traded $CAT stock once in the past six months, with Representative Jared Moskowitz selling up to $15,000 on March 31st.

Multiple analysts have issued price targets for $CAT, with a median target of $990.0. Jamie Cook from Truist Securities has set a target price of $1218.0, while Jerry Revich from Wells Fargo has targeted $1155.0.