Private Advisor Group LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,782 shares of the industrial products company’s stock after purchasing an additional 4,417 shares during the quarter. Private Advisor Group LLC’s holdings in Caterpillar were worth $8,596,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CAT. Quadrant Capital Group LLC lifted its position in shares of Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new stake in Caterpillar during the 2nd quarter worth approximately $104,000. Motco lifted its holdings in Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 718 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $107,000. Finally, Acrospire Investment Management LLC lifted its holdings in Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 68.54% of the company’s stock.
Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised Caterpillar from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $161.96 to $200.00 in a report on Monday. Vetr cut Caterpillar from a “sell” rating to a “strong sell” rating and set a $141.37 price objective for the company. in a report on Thursday, January 4th. UBS Group set a $180.00 price objective on Caterpillar and gave the company a “buy” rating in a report on Friday, January 5th. They noted that the move was a valuation call. ValuEngine raised Caterpillar from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $195.00 price target (up previously from $165.00) on shares of Caterpillar in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. Caterpillar currently has an average rating of “Hold” and an average target price of $145.87.
Caterpillar Inc. (CAT) traded up $3.33 during midday trading on Thursday, hitting $169.20. The company’s stock had a trading volume of 4,166,600 shares, compared to its average volume of 4,060,000. The company has a market cap of $100,660.00, a price-to-earnings ratio of 117.50, a PEG ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. Caterpillar Inc. has a 1 year low of $90.34 and a 1 year high of $169.53.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The company had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. analysts forecast that Caterpillar Inc. will post 6.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio is 216.67%.
In other news, insider Thomas A. Pellette sold 24,547 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bradley M. Halverson sold 17,210 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the transaction, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The disclosure for this sale can be found here. Insiders sold a total of 52,989 shares of company stock worth $7,235,850 over the last three months. 0.14% of the stock is owned by company insiders.
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