Cornerstone Wealth Management LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,761 shares of the industrial products company’s stock after buying an additional 440 shares during the period. Cornerstone Wealth Management LLC’s holdings in Caterpillar were worth $1,287,000 at the end of the most recent quarter.
Several other large investors have 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 worth $102,000 after buying an additional 128 shares in the last quarter. Gradient Investments LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth about $113,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Caterpillar in the fourth quarter worth about $131,000. Massey Quick Simon & CO. LLC lifted its position in shares of Caterpillar by 4,240.7% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock worth $146,000 after buying an additional 1,145 shares in the last quarter. Finally, Sandy Spring Bank lifted its position in shares of Caterpillar by 61.9% in the fourth quarter. Sandy Spring Bank now owns 981 shares of the industrial products company’s stock worth $155,000 after buying an additional 375 shares in the last quarter. Institutional investors own 68.70% of the company’s stock.
In related news, General Counsel Suzette M. Long sold 528 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total value of $84,722.88. Following the transaction, the general counsel now owns 19,646 shares of the company’s stock, valued at $3,152,397.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bradley M. Halverson sold 2,600 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $137.67, for a total value of $357,942.00. Following the completion of the transaction, the insider now directly owns 5,214 shares in the company, valued at approximately $717,811.38. The disclosure for this sale can be found here. In the last three months, insiders sold 98,327 shares of company stock worth $15,968,670. 0.14% of the stock is owned by insiders.
A number of equities research analysts have issued reports on the company. ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $139.26 price objective on the stock. in a research report on Wednesday, December 27th. JPMorgan Chase & Co. upgraded Caterpillar from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $161.96 to $200.00 in a research report on Monday, January 8th. Bank of America upped their price objective on Caterpillar from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, OTR Global downgraded Caterpillar to a “positive” rating in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $167.60.
Shares of Caterpillar Inc. (NYSE CAT) opened at $162.41 on Friday. 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 Inc. has a fifty-two week low of $90.34 and a fifty-two week high of $173.24. The firm has a market capitalization of $97,060.44, a P/E ratio of 23.61, a PEG ratio of 1.74 and a beta of 1.23.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.01 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. research analysts anticipate that Caterpillar Inc. will post 9.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, January 22nd were paid a $0.78 dividend. The ex-dividend date was Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 1.92%. Caterpillar’s dividend payout ratio (DPR) is currently 247.62%.
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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.
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