Cetera Advisor Networks LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 18.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,256 shares of the industrial products company’s stock after purchasing an additional 4,309 shares during the period. Cetera Advisor Networks LLC’s holdings in Caterpillar were worth $4,015,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Gradient Investments LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $113,000. Ballew Advisors Inc acquired a new stake in Caterpillar during the first quarter valued at approximately $121,000. Harvest Fund Management Co. Ltd acquired a new stake in Caterpillar during the fourth quarter valued at approximately $131,000. Clearbridge LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $140,000. Finally, Aevitas Wealth Management Inc. acquired a new stake in Caterpillar during the fourth quarter valued at approximately $143,000. 66.86% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Thomas A. Pellette sold 54,481 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $150.17, for a total value of $8,181,411.77. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joseph E. Creed sold 4,532 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $155.67, for a total value of $705,496.44. Following the completion of the sale, the chief financial officer now owns 2,554 shares in the company, valued at $397,581.18. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
CAT opened at $156.20 on Wednesday. Caterpillar Inc. has a 12 month low of $102.06 and a 12 month high of $173.24. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.36. The company has a market capitalization of $95.03 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.11 by $0.71. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. The firm had revenue of $12.86 billion for the quarter, compared to analysts’ expectations of $11.99 billion. During the same period last year, the firm earned $1.28 EPS. The firm’s revenue was up 30.9% compared to the same quarter last year. research analysts expect that Caterpillar Inc. will post 10.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, May 19th. Investors of record on Monday, April 23rd were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, April 20th. Caterpillar’s dividend payout ratio is currently 45.35%.
Several analysts have issued reports on CAT shares. 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 note on Friday, January 26th. Barclays set a $180.00 price objective on Caterpillar and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Daiwa Capital Markets cut Caterpillar from an “outperform” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Wednesday, April 25th. TheStreet upgraded Caterpillar from a “c+” rating to an “a-” rating in a research note on Tuesday, April 24th. Finally, Vetr cut Caterpillar from a “strong-buy” rating to a “buy” rating and set a $169.76 price objective on the stock. in a research note on Monday, March 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Caterpillar presently has a consensus rating of “Buy” and an average price target of $172.55.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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