HL Financial Services LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,997 shares of the industrial products company’s stock after acquiring an additional 2,980 shares during the quarter. HL Financial Services LLC’s holdings in Caterpillar were worth $10,521,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC boosted its position in Caterpillar by 5.4% during the 2nd quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock valued at $874,069,000 after purchasing an additional 327,470 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Caterpillar by 7.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,239,504 shares of the industrial products company’s stock valued at $303,834,000 after purchasing an additional 145,707 shares during the period. Dimensional Fund Advisors LP boosted its position in Caterpillar by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock valued at $291,325,000 after purchasing an additional 151,960 shares during the period. Swiss National Bank boosted its position in Caterpillar by 3.5% during the 2nd quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock valued at $268,086,000 after purchasing an additional 67,200 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Caterpillar by 23.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock valued at $265,581,000 after purchasing an additional 374,038 shares during the period. Institutional investors and hedge funds own 66.56% of the company’s stock.
Shares of CAT stock opened at $126.41 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. Caterpillar Inc. has a 1 year low of $112.06 and a 1 year high of $173.24. The firm has a market cap of $74.23 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 0.69 and a beta of 1.58.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The company had revenue of $13.51 billion during the quarter, compared to analyst estimates of $13.28 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 11.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be issued a $0.86 dividend. The ex-dividend date is Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.72%. Caterpillar’s dividend payout ratio (DPR) is 50.00%.
CAT has been the subject of a number of analyst reports. Tigress Financial restated a “buy” rating on shares of Caterpillar in a research report on Friday, August 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 report on Monday, August 13th. 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 report on Tuesday, July 17th. Goldman Sachs Group lowered Caterpillar from a “conviction-buy” rating to a “buy” rating in a research report on Monday, July 16th. Finally, Morgan Stanley boosted their price objective on Caterpillar from $185.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $158.55.
In other news, insider Lange Bob De acquired 1,080 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was acquired at an average price of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the acquisition, the insider now directly owns 11,310 shares in the company, valued at approximately $1,307,209.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
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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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