Oakbrook Investments LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 259,798 shares of the industrial products company’s stock after selling 15,669 shares during the quarter. Caterpillar accounts for 2.2% of Oakbrook Investments LLC’s portfolio, making the stock its 7th biggest position. Oakbrook Investments LLC’s holdings in Caterpillar were worth $39,617,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Zacks Investment Management grew its holdings in Caterpillar by 12.7% during the second quarter. Zacks Investment Management now owns 87,963 shares of the industrial products company’s stock worth $11,934,000 after buying an additional 9,918 shares in the last quarter. Hartford Financial Management Inc. grew its holdings in Caterpillar by 92.4% during the second quarter. Hartford Financial Management Inc. now owns 24,696 shares of the industrial products company’s stock worth $3,351,000 after buying an additional 11,860 shares in the last quarter. Old Port Advisors bought a new stake in Caterpillar during the second quarter worth $1,804,000. Xact Kapitalforvaltning AB grew its holdings in Caterpillar by 2.2% during the second quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock worth $8,446,000 after buying an additional 1,367 shares in the last quarter. Finally, OmniStar Financial Group Inc. grew its holdings in Caterpillar by 8.0% during the second quarter. OmniStar Financial Group Inc. now owns 9,890 shares of the industrial products company’s stock worth $1,341,000 after buying an additional 734 shares in the last quarter. Institutional investors and hedge funds own 66.63% of the company’s stock.
In other news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the transaction, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is owned by corporate insiders.
NYSE:CAT traded down $3.28 during trading on Thursday, reaching $138.06. The company’s stock had a trading volume of 76,953 shares, compared to its average volume of 5,121,091. The company has a market capitalization of $90.63 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97. Caterpillar Inc. has a 12 month low of $129.40 and a 12 month high of $173.24.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.24. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The firm had revenue of $14.01 billion for the quarter, compared to analysts’ expectations of $14.09 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 11.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.49%. Caterpillar’s dividend payout ratio is presently 50.00%.
CAT has been the subject of several recent research reports. Stifel Nicolaus decreased their price target on Caterpillar from $174.00 to $168.00 and set a “hold” rating for the company in a report on Tuesday, August 7th. UBS Group set a $185.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 5th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Tuesday, July 17th. Argus reduced their price objective on Caterpillar from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, August 13th. Finally, Morgan Stanley upped their price objective on Caterpillar from $185.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Caterpillar currently has a consensus rating of “Buy” and a consensus price target of $171.44.
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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