West Coast Financial LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 438.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,933 shares of the industrial products company’s stock after buying an additional 6,459 shares during the period. West Coast Financial LLC’s holdings in Caterpillar were worth $1,210,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Atlantic Trust Group LLC lifted its holdings in shares of Caterpillar by 17.4% in the 1st quarter. Atlantic Trust Group LLC now owns 41,731 shares of the industrial products company’s stock worth $6,151,000 after purchasing an additional 6,180 shares in the last quarter. Summit Trail Advisors LLC raised its position in Caterpillar by 15,223.3% in the 1st quarter. Summit Trail Advisors LLC now owns 444,377 shares of the industrial products company’s stock valued at $444,000 after buying an additional 441,477 shares during the last quarter. Menora Mivtachim Holdings LTD. purchased a new stake in Caterpillar in the 1st quarter valued at $14,935,000. Neville Rodie & Shaw Inc. raised its position in Caterpillar by 3.4% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 22,868 shares of the industrial products company’s stock valued at $3,102,000 after buying an additional 750 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Caterpillar in the 2nd quarter valued at $168,000. Hedge funds and other institutional investors own 66.63% of the company’s stock.
Shares of Caterpillar stock opened at $131.32 on Friday. Caterpillar Inc. has a 1 year low of $129.43 and a 1 year high of $173.24. The firm has a market cap of $80.71 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. 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 announced its earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $14.09 billion. During the same period last year, the firm posted $1.49 EPS. The business’s revenue was up 23.7% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 11.65 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $3.44 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s dividend payout ratio is presently 50.00%.
A number of equities research analysts recently commented on CAT shares. Stifel Nicolaus lowered their price target on Caterpillar from $174.00 to $168.00 and set a “hold” rating for the company in a research report on Tuesday, August 7th. UBS Group set a $185.00 price target on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, September 5th. ValuEngine lowered Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Tuesday, July 17th. Finally, Argus lowered their price target on Caterpillar from $185.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $171.44.
In other news, insider Denise C. Johnson sold 35,051 shares of the firm’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 completion of the sale, the insider now directly 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 SEC, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.
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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