LifeSteps Financial Inc. lessened its position in Caterpillar Inc. (NYSE:CAT) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,484 shares of the industrial products company’s stock after selling 59 shares during the period. LifeSteps Financial Inc.’s holdings in Caterpillar were worth $344,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Caterpillar by 109.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,041,360 shares of the industrial products company’s stock valued at $2,373,788,000 after purchasing an additional 6,803,900 shares during the period. Norges Bank acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $878,514,000. FMR LLC lifted its stake in shares of Caterpillar by 42.3% in the fourth quarter. FMR LLC now owns 6,019,787 shares of the industrial products company’s stock valued at $1,095,721,000 after purchasing an additional 1,788,783 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Caterpillar by 23.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,444,897 shares of the industrial products company’s stock valued at $627,039,000 after purchasing an additional 665,237 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Caterpillar by 11.9% in the fourth quarter. Morgan Stanley now owns 4,867,473 shares of the industrial products company’s stock valued at $885,977,000 after purchasing an additional 519,151 shares during the period. Institutional investors own 67.48% of the company’s stock.
In other news, CAO Gary Michael Marvel sold 5,056 shares of the business’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $220.97, for a total transaction of $1,117,224.32. Following the transaction, the chief accounting officer now directly owns 5,623 shares of the company’s stock, valued at $1,242,514.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Denise C. Johnson sold 80,695 shares of the business’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $219.82, for a total transaction of $17,738,374.90. Following the transaction, the insider now directly owns 38,945 shares in the company, valued at $8,560,889.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,080 shares of company stock worth $32,650,920. Corporate insiders own 0.31% of the company’s stock.
Shares of CAT traded up $1.88 during mid-day trading on Friday, hitting $230.77. The company had a trading volume of 57,288 shares, compared to its average volume of 3,222,809. The stock has a market cap of $125.84 billion, a PE ratio of 38.08, a P/E/G ratio of 2.14 and a beta of 0.97. The company has a quick ratio of 1.08, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. Caterpillar Inc. has a 1-year low of $100.22 and a 1-year high of $237.78. The business’s 50-day simple moving average is $227.83 and its 200-day simple moving average is $192.94.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 28th. The industrial products company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.63. The firm had revenue of $11.24 billion for the quarter, compared to analysts’ expectations of $11.24 billion. Caterpillar had a net margin of 7.60% and a return on equity of 25.24%. Caterpillar’s revenue was down 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.63 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 5.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Monday, April 26th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, April 23rd. This represents a $4.12 dividend on an annualized basis and a yield of 1.79%. Caterpillar’s dividend payout ratio (DPR) is 37.25%.
Several research firms have weighed in on CAT. Citigroup raised their target price on shares of Caterpillar from $205.00 to $245.00 in a report on Tuesday, March 16th. Vertical Research began coverage on shares of Caterpillar in a report on Wednesday, January 20th. They set a “buy” rating and a $230.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Caterpillar from $205.00 to $245.00 in a report on Tuesday, March 16th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $205.00 to $237.00 and gave the company an “overweight” rating in a report on Wednesday, March 3rd. Finally, Jefferies Financial Group raised their target price on shares of Caterpillar from $160.00 to $200.00 and gave the company a “hold” rating in a report on Friday, January 15th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and an average target price of $192.57.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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