Franklin Resources Inc. lessened its position in shares of Caterpillar, Inc. (NYSE:CAT) by 15.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,393,148 shares of the industrial products company’s stock after selling 967,796 shares during the quarter. Franklin Resources Inc. owned about 0.91% of Caterpillar worth $579,544,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Caterpillar by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after acquiring an additional 1,342,984 shares during the last quarter. FMR LLC lifted its stake in shares of Caterpillar by 11.4% during the 1st quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after acquiring an additional 1,798,312 shares during the last quarter. Morgan Stanley lifted its stake in shares of Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after acquiring an additional 1,365,856 shares during the last quarter. Primecap Management Co. CA raised its position in Caterpillar by 16.9% during the 1st quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after purchasing an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Caterpillar by 8.1% during the 1st quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after purchasing an additional 419,191 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.
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Caterpillar, Inc. (NYSE:CAT) traded up 0.94% during mid-day trading on Friday, reaching $138.23. The company’s stock had a trading volume of 594,546 shares. The stock’s 50 day moving average price is $126.04 and its 200 day moving average price is $111.66. The stock has a market capitalization of $81.69 billion, a P/E ratio of 772.23 and a beta of 1.26. Caterpillar, Inc. has a 1-year low of $80.33 and a 1-year high of $140.44.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year. Analysts expect that Caterpillar, Inc. will post $6.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.28%. Caterpillar’s dividend payout ratio is currently 216.67%.
In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.
A number of brokerages have weighed in on CAT. UBS AG set a $155.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on Caterpillar from $125.00 to $145.00 and gave the company a “hold” rating in a report on Wednesday. Royal Bank Of Canada lifted their price target on Caterpillar from $120.00 to $143.00 and gave the company a “sector perform” rating in a report on Wednesday. Robert W. Baird boosted their target price on Caterpillar from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Bank of America Corporation set a $152.00 target price on Caterpillar and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $133.70.
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