Utah Retirement Systems boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,979 shares of the industrial products company’s stock after purchasing an additional 400 shares during the quarter. Utah Retirement Systems’ holdings in Caterpillar were worth $16,466,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Global Retirement Partners LLC raised its holdings in Caterpillar by 16.9% in the 3rd quarter. Global Retirement Partners LLC now owns 2,493 shares of the industrial products company’s stock valued at $380,000 after acquiring an additional 360 shares in the last quarter. Private Capital Group LLC raised its holdings in Caterpillar by 10.7% in the 2nd quarter. Private Capital Group LLC now owns 3,759 shares of the industrial products company’s stock valued at $509,000 after acquiring an additional 362 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in Caterpillar by 1.1% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 34,837 shares of the industrial products company’s stock valued at $4,726,000 after acquiring an additional 372 shares in the last quarter. Financial Advocates Investment Management raised its holdings in Caterpillar by 6.2% in the 2nd quarter. Financial Advocates Investment Management now owns 6,379 shares of the industrial products company’s stock valued at $869,000 after acquiring an additional 374 shares in the last quarter. Finally, First Interstate Bank raised its holdings in Caterpillar by 21.4% in the 3rd quarter. First Interstate Bank now owns 2,137 shares of the industrial products company’s stock valued at $326,000 after acquiring an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 66.86% of the company’s stock.
Several equities analysts have commented on CAT shares. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 price target for the company in a report on Thursday, September 20th. Citigroup raised Caterpillar to an “outperform” rating in a report on Friday, September 21st. OTR Global cut Caterpillar to a “positive” rating in a report on Friday, September 21st. Morgan Stanley set a $169.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, ValuEngine cut Caterpillar from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Caterpillar currently has an average rating of “Buy” and an average price target of $158.90.
In other Caterpillar news, insider Lange Bob De purchased 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the transaction, the insider now directly owns 11,310 shares in the company, valued at $1,307,209.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
NYSE CAT traded down $9.63 during trading hours on Wednesday, reaching $129.32. 8,109,572 shares of the company’s stock were exchanged, compared to its average volume of 5,429,446. The firm has a market cap of $80.06 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.51 and a beta of 1.61. Caterpillar Inc. has a one year low of $112.06 and a one year high of $173.24. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.48 and a quick ratio of 1.02.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 EPS for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.03. The business had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. Caterpillar’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 EPS. As a group, equities analysts expect that Caterpillar Inc. will post 11.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Monday, October 22nd were given a dividend of $0.86 per share. The ex-dividend date was Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a yield of 2.66%. Caterpillar’s dividend payout ratio (DPR) is presently 50.00%.
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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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