Hudson Valley Investment Advisors Inc. ADV reduced its stake in Caterpillar Inc. (NYSE:CAT) by 9.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,984 shares of the industrial products company’s stock after selling 500 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Caterpillar were worth $760,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Acropolis Investment Management LLC bought a new stake in Caterpillar during the third quarter valued at about $100,000. Sound Income Strategies LLC raised its holdings in Caterpillar by 181.8% during the third quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 429 shares during the period. Avestar Capital LLC raised its holdings in Caterpillar by 92.3% during the second quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 477 shares during the period. Landaas & Co. WI ADV bought a new stake in Caterpillar during the second quarter valued at about $130,000. Finally, Front Row Advisors LLC raised its holdings in Caterpillar by 125.0% during the first quarter. Front Row Advisors LLC now owns 900 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 500 shares during the period. 66.63% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on CAT shares. Citigroup raised Caterpillar to an “outperform” rating in a report on Friday, September 21st. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 price target on the stock in a report on Thursday, September 20th. OTR Global cut Caterpillar to a “positive” rating in a report on Friday, September 21st. UBS Group set a $185.00 price target on Caterpillar and gave the company a “buy” rating in a report on Wednesday, September 5th. Finally, Deutsche Bank set a $177.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Caterpillar currently has an average rating of “Buy” and an average price target of $171.08.
In related news, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the transaction, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.36% of the company’s stock.
Shares of Caterpillar stock opened at $142.07 on Friday. The stock has a market cap of $90.63 billion, a PE ratio of 20.65, a PEG ratio of 0.84 and a beta of 1.37. Caterpillar Inc. has a twelve month low of $129.20 and a twelve month high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.59.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.24. The company had revenue of $14.01 billion during the quarter, compared to analyst estimates of $14.09 billion. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business posted $1.49 earnings per share. Analysts anticipate that Caterpillar Inc. will post 11.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be given a $0.86 dividend. The ex-dividend date is Friday, October 19th. This represents a $3.44 annualized dividend and a yield of 2.42%. Caterpillar’s dividend payout ratio is currently 50.00%.
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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