Suffolk Capital Management LLC Takes $7.82 Million Position in Caterpillar Inc. (CAT)

Suffolk Capital Management LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 49,599 shares of the industrial products company’s stock, valued at approximately $7,816,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Jennison Associates LLC lifted its stake in shares of Caterpillar by 126.5% in the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after purchasing an additional 3,324,051 shares during the period. Vanguard Group Inc. lifted its stake in shares of Caterpillar by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares during the period. FMR LLC lifted its stake in shares of Caterpillar by 11.7% in the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares during the period. Balyasny Asset Management LLC lifted its stake in shares of Caterpillar by 663.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after purchasing an additional 1,216,053 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Caterpillar by 61.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock valued at $268,768,000 after purchasing an additional 954,200 shares during the period. Hedge funds and other institutional investors own 68.70% of the company’s stock.

Shares of Caterpillar Inc. (CAT) opened at $156.29 on Tuesday. The firm has a market cap of $92,980.00, a P/E ratio of 29.88, a P/E/G ratio of 1.67 and a beta of 1.22. Caterpillar Inc. has a 1-year low of $90.34 and a 1-year high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.39. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm’s revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. equities analysts forecast that Caterpillar Inc. will post 9.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 2.00%. Caterpillar’s dividend payout ratio (DPR) is 59.66%.

CAT has been the subject of a number of research analyst reports. Argus upped their price objective on shares of Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Bank of America set a $152.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, October 25th. UBS Group set a $155.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Tigress Financial restated a “buy” rating on shares of Caterpillar in a research report on Monday, October 30th. Finally, ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $167.60.

In other news, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the transaction, the general counsel now directly owns 19,646 shares in the company, valued at $3,152,397.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jananne A. Copeland sold 3,247 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $136.95, for a total transaction of $444,676.65. Following the transaction, the insider now owns 8,908 shares in the company, valued at $1,219,950.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,574 shares of company stock worth $16,413,346. 0.14% of the stock is owned by corporate insiders.

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About Caterpillar

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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