WEALTHFRONT Corp cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 11.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 22,155 shares of the industrial products company’s stock after selling 2,940 shares during the period. WEALTHFRONT Corp’s holdings in Caterpillar were worth $3,378,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Roundview Capital LLC lifted its stake in shares of Caterpillar by 3.3% in the third quarter. Roundview Capital LLC now owns 12,175 shares of the industrial products company’s stock valued at $1,857,000 after buying an additional 390 shares in the last quarter. Artemis Investment Management LLP lifted its stake in shares of Caterpillar by 12.8% in the third quarter. Artemis Investment Management LLP now owns 154,300 shares of the industrial products company’s stock valued at $23,532,000 after buying an additional 17,500 shares in the last quarter. Old Port Advisors bought a new position in shares of Caterpillar in the second quarter valued at $1,804,000. Westside Investment Management Inc. lifted its stake in shares of Caterpillar by 142.0% in the third quarter. Westside Investment Management Inc. now owns 1,278 shares of the industrial products company’s stock valued at $195,000 after buying an additional 750 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in shares of Caterpillar by 12.7% in the second quarter. Zacks Investment Management now owns 87,963 shares of the industrial products company’s stock valued at $11,934,000 after buying an additional 9,918 shares in the last quarter. 66.86% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Denise C. Johnson sold 35,051 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were 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 owns 22,826 shares in the company, valued at $3,519,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De acquired 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average price of $115.58 per share, with a total value of $124,826.40. Following the acquisition, the insider now directly owns 11,310 shares of the company’s stock, valued at approximately $1,307,209.80. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
NYSE CAT opened at $126.34 on Thursday. Caterpillar Inc. has a 52-week low of $112.06 and a 52-week 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. The stock has a market cap of $76.31 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.54 and a beta of 1.61.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The business had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $13.28 billion. During the same quarter last year, the company posted $1.95 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 11.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Monday, October 22nd were issued 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 2.72%. Caterpillar’s dividend payout ratio (DPR) is presently 50.00%.
A number of research analysts have weighed in on CAT shares. Argus dropped their price objective on shares of Caterpillar from $185.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a research note on Friday, August 17th. UBS Group set a $185.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, September 5th. Deutsche Bank set a $177.00 target price on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, September 5th. Finally, Oppenheimer started coverage on shares of Caterpillar in a report on Friday, September 7th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $158.90.
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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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