Lenox Wealth Management Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 85.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,182 shares of the industrial products company’s stock after purchasing an additional 544 shares during the period. Lenox Wealth Management Inc.’s holdings in Caterpillar were worth $149,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Tortoise Investment Management LLC increased its holdings in Caterpillar by 3,600.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new stake in shares of Caterpillar during the second quarter valued at about $27,000. Private Ocean LLC grew its stake in shares of Caterpillar by 62.9% during the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. G&S Capital LLC acquired a new stake in shares of Caterpillar during the third quarter valued at about $38,000. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Caterpillar during the second quarter valued at about $46,000. Hedge funds and other institutional investors own 65.74% of the company’s stock.
Several analysts have recently weighed in on CAT shares. Buckingham Research downgraded Caterpillar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. restated a “buy” rating and set a $155.00 target price on shares of Caterpillar in a research note on Wednesday, October 23rd. Cleveland Research restated a “hold” rating on shares of Caterpillar in a research note on Monday, September 30th. Royal Bank of Canada restated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 14th. Finally, Goldman Sachs Group raised their target price on Caterpillar from $130.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Caterpillar currently has an average rating of “Hold” and an average target price of $138.76.
NYSE:CAT traded down $0.49 during mid-day trading on Monday, reaching $147.67. The stock had a trading volume of 1,171,457 shares, compared to its average volume of 4,321,513. The company has a market capitalization of $80.89 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. Caterpillar Inc. has a 1-year low of $111.75 and a 1-year high of $148.40. The stock’s 50 day simple moving average is $131.66 and its two-hundred day simple moving average is $129.08. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.44 and a quick ratio of 0.99.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing the Zacks’ consensus estimate of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The firm had revenue of $12.76 billion during the quarter, compared to analyst estimates of $13.49 billion. During the same quarter last year, the business posted $2.86 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that Caterpillar Inc. will post 10.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a yield of 2.79%. Caterpillar’s dividend payout ratio is currently 36.72%.
In other news, insider Denise C. Johnson sold 4,172 shares of Caterpillar stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $146.67, for a total transaction of $611,907.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 5,019 shares of Caterpillar stock in a transaction that occurred on Monday, September 30th. The shares were 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. Insiders sold 95,141 shares of company stock worth $13,717,142 in the last three months. 0.37% of the stock is currently owned by corporate insiders.
Caterpillar Company Profile
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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