CIBC Private Wealth Group LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,964 shares of the industrial products company’s stock after buying an additional 1,002 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Caterpillar were worth $5,009,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its holdings in shares of Caterpillar by 6,835.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 8,923,946 shares during the period. Norges Bank purchased a new position in shares of Caterpillar in the 4th quarter worth approximately $733,859,000. Sanders Capital LLC boosted its holdings in shares of Caterpillar by 60.7% in the 1st quarter. Sanders Capital LLC now owns 4,747,400 shares of the industrial products company’s stock worth $724,333,000 after purchasing an additional 1,792,900 shares during the period. Harris Associates L P boosted its holdings in shares of Caterpillar by 38.8% in the 4th quarter. Harris Associates L P now owns 3,529,388 shares of the industrial products company’s stock worth $448,479,000 after purchasing an additional 987,103 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Caterpillar by 3,805.2% in the 4th quarter. LSV Asset Management now owns 620,926 shares of the industrial products company’s stock worth $78,901,000 after purchasing an additional 605,026 shares during the period. Institutional investors and hedge funds own 65.66% of the company’s stock.
Shares of NYSE CAT opened at $127.28 on Wednesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.43 and a quick ratio of 0.98. The firm has a market cap of $71.18 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.85 and a beta of 1.51. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $159.37.
Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.10. The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.36 billion. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. Caterpillar’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. Research analysts expect that Caterpillar Inc. will post 12.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a dividend of $1.03 per share. The ex-dividend date is Friday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 dividend on an annualized basis and a yield of 3.24%. Caterpillar’s payout ratio is 30.66%.
A number of brokerages recently issued reports on CAT. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research note on Tuesday, April 2nd. UBS Group set a $125.00 price target on Caterpillar and gave the stock a “sell” rating in a research note on Thursday, April 4th. Bank of America set a $152.00 price target on Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Macquarie set a $115.00 price target on Caterpillar and gave the stock a “sell” rating in a research note on Tuesday. Finally, Standpoint Research raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $145.39.
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Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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