Mariner LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 10.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,848 shares of the industrial products company’s stock after purchasing an additional 1,482 shares during the period. Mariner LLC’s holdings in Caterpillar were worth $2,335,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Lee Financial Co boosted its holdings in Caterpillar by 365.1% in the 1st quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock worth $120,000 after buying an additional 639 shares during the period. Ballew Advisors Inc bought a new position in Caterpillar in the 1st quarter worth $121,000. Stelac Advisory Services LLC bought a new position in Caterpillar in the 1st quarter worth $129,000. Clearbridge LLC bought a new position in Caterpillar in the 4th quarter worth $140,000. Finally, Vantage Investment Advisors LLC boosted its holdings in Caterpillar by 126.5% in the 1st quarter. Vantage Investment Advisors LLC now owns 2,414 shares of the industrial products company’s stock worth $141,000 after buying an additional 1,348 shares during the period. Hedge funds and other institutional investors own 66.86% of the company’s stock.
Shares of Caterpillar opened at $150.02 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 0.96, a current ratio of 1.36 and a debt-to-equity ratio of 1.52. Caterpillar Inc. has a 12 month low of $102.30 and a 12 month high of $173.24. The stock has a market capitalization of $91.57 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 1.08 and a beta of 1.32.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.71. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The firm had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.99 billion. During the same quarter last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. sell-side analysts forecast that Caterpillar Inc. will post 10.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, July 20th will be issued a $0.86 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, July 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.29%. Caterpillar’s dividend payout ratio (DPR) is presently 45.35%.
In related news, CFO Joseph E. Creed sold 4,532 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 2,554 shares of the company’s stock, valued at approximately $397,581.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas A. Pellette sold 54,481 shares of the stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $150.17, for a total transaction of $8,181,411.77. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
Several research analysts recently weighed in on CAT shares. Daiwa Capital Markets downgraded shares of Caterpillar from an “outperform” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Wednesday, April 25th. TheStreet raised shares of Caterpillar from a “c+” rating to an “a-” rating in a report on Tuesday, April 24th. Vetr downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating and set a $169.76 target price for the company. in a report on Monday, March 19th. Morgan Stanley set a $185.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 25th. Finally, Citigroup raised shares of Caterpillar from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a report on Monday, April 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $173.16.
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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