Private Ocean LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 62.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259 shares of the industrial products company’s stock after buying an additional 100 shares during the quarter. Private Ocean LLC’s holdings in Caterpillar were worth $33,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley increased its holdings in Caterpillar by 4.2% in the second quarter. Morgan Stanley now owns 4,367,073 shares of the industrial products company’s stock valued at $595,189,000 after buying an additional 174,165 shares during the last quarter. Manning & Napier Group LLC boosted its stake in Caterpillar by 30.4% in the second quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock valued at $20,770,000 after acquiring an additional 35,530 shares during the period. Atalanta Sosnoff Capital LLC boosted its stake in Caterpillar by 3.6% in the second quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 120 shares during the period. Krueger & Catalano Capital Partners LLC boosted its stake in Caterpillar by 6.4% in the second quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock valued at $667,000 after acquiring an additional 293 shares during the period. Finally, Cahill Financial Advisors Inc. boosted its stake in Caterpillar by 2.7% in the second quarter. Cahill Financial Advisors Inc. now owns 8,240 shares of the industrial products company’s stock valued at $1,124,000 after acquiring an additional 218 shares during the period. 65.74% of the stock is owned by hedge funds and other institutional investors.
In related news, CAO Gary Michael Marvel sold 2,180 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $139.38, for a total transaction of $303,848.40. Following the sale, the chief accounting officer now owns 2,180 shares of the company’s stock, valued at $303,848.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Suzette M. Long sold 5,019 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the sale, the general counsel now directly owns 12,569 shares in the company, valued at approximately $1,587,967.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,141 shares of company stock worth $13,717,142. 0.37% of the stock is owned by corporate insiders.
CAT has been the subject of a number of research reports. Stephens initiated coverage on Caterpillar in a research note on Wednesday, August 14th. They issued an “underweight” rating and a $100.00 target price for the company. Buckingham Research downgraded Caterpillar from a “buy” rating to a “neutral” rating and decreased their target price for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. UBS Group decreased their target price on Caterpillar to $110.00 and set a “sell” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada restated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 14th. Finally, Robert W. Baird lifted their target price on Caterpillar from $141.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and an average price target of $138.76.
Shares of NYSE CAT traded up $1.15 during midday trading on Friday, hitting $148.16. 2,714,785 shares of the company’s stock were exchanged, compared to its average volume of 4,321,513. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.44 and a quick ratio of 0.99. The stock’s 50 day moving average price is $131.66 and its 200-day moving average price is $129.08. The firm has a market cap of $80.89 billion, a P/E ratio of 13.20, a PEG ratio of 1.54 and a beta of 1.53. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $148.40.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.82 by ($0.16). The business had revenue of $12.76 billion for the quarter, compared to analyst estimates of $13.49 billion. Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.86 earnings per share. On average, analysts expect that Caterpillar Inc. will post 10.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 annualized dividend and a dividend yield of 2.78%. Caterpillar’s dividend payout ratio is presently 36.72%.
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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