NEXT Financial Group Inc reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,077 shares of the industrial products company’s stock after selling 603 shares during the quarter. NEXT Financial Group Inc’s holdings in Caterpillar were worth $800,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. E&G Advisors LP bought a new position in Caterpillar in the fourth quarter valued at about $362,000. Bank of Montreal Can raised its position in Caterpillar by 26.7% in the fourth quarter. Bank of Montreal Can now owns 1,376,244 shares of the industrial products company’s stock valued at $216,868,000 after purchasing an additional 289,605 shares during the last quarter. Davis R M Inc. raised its position in Caterpillar by 5.9% in the fourth quarter. Davis R M Inc. now owns 6,061 shares of the industrial products company’s stock valued at $955,000 after purchasing an additional 337 shares during the last quarter. Convergence Investment Partners LLC bought a new position in Caterpillar in the fourth quarter valued at about $7,703,000. Finally, 440 Investment Group LLC bought a new position in Caterpillar in the fourth quarter valued at about $303,000. Institutional investors and hedge funds own 68.55% of the company’s stock.
In related news, insider Bradley M. Halverson sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $137.67, for a total transaction of $357,942.00. Following the completion of the sale, the insider now owns 5,214 shares of the company’s stock, valued at $717,811.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold 52,989 shares of company stock valued at $7,235,850 in the last ninety days. 0.14% of the stock is currently owned by insiders.
CAT has been the subject of several research reports. Wells Fargo & Co set a $150.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Wednesday, October 11th. Goldman Sachs Group increased their target price on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, October 9th. BMO Capital Markets reiterated a “buy” rating and issued a $150.00 target price on shares of Caterpillar in a research report on Friday, October 20th. Finally, UBS Group set a $155.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $148.24.
Shares of Caterpillar Inc. (CAT) opened at $169.31 on Wednesday. The firm has a market capitalization of $101,317.20, a PE ratio of 117.58, a PEG ratio of 2.10 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 one year low of $90.34 and a one year high of $173.24.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.68. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. sell-side analysts expect that Caterpillar Inc. will post 6.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 1.84%. Caterpillar’s dividend payout ratio is currently 216.67%.
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