Carnegie Capital Asset Management LLC increased its holdings in Caterpillar Inc. (NYSE:CAT – Get Rating) by 4.3% in the 1st quarter, HoldingsChannel reports. The fund owned 3,381 shares of the industrial products company’s stock after purchasing an additional 139 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Caterpillar were worth $753,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Crewe Advisors LLC boosted its position in shares of Caterpillar by 322.6% during the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products shares company’s stock worth $27,000 after buying an additional 100 during the period. Sierra Capital LLC purchased a new position in shares of Caterpillar during the fourth quarter worth $38,000. IMA Wealth Inc. purchased a new position in shares of Caterpillar during the fourth quarter worth $41,000. DB Fitzpatrick & Co Inc purchased a new position in shares of Caterpillar during the fourth quarter worth $42,000. Finally, Lloyd Advisory Services LLC. boosted its position in shares of Caterpillar by 3,042.9% during the fourth quarter. Lloyd Advisory Services LLC. Now owns 220 shares of the industrial products company’s stock worth $45,000 after buying an additional 213 shares during the period. Institutional investors own 67.44% of the company’s stock.
A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, March 28th. StockNews.com assumed coverage on Caterpillar in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their target price on Caterpillar from $164.00 to $161.00 and set an “underweight” rating for the company in a report on Thursday. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Caterpillar in a report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Caterpillar from $250.00 to $240.00 in a report on Friday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $243.50.
Shares of CAT stock opened at $178.67 on Friday. The stock has a market capitalization of $95.29 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 1.29 and a beta of 0.94. Caterpillar Inc. has a 52-week low of $176.02 and a 52-week high of $237.90. The stock’s 50-day moving average price is $211.91 and its 200 day moving average price is $210.39. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48.
Caterpillar (NYSE:CAT – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.22. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.87 EPS. Analysts expect that Caterpillar Inc. will post 12.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.69%. The ex-dividend date is Tuesday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. Caterpillar’s payout ratio is 37.22%.
In other Caterpillar news, Director David Maclennan acquired 600 shares of the stock in a transaction on Thursday, May 5th. The shares were bought at an average price of $219.82 per share, with a total value of $131,892.00. Following the acquisition, the director now owns 2,480 shares of the company’s stock, valued at $545,153.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph E. Creed sold 5,004 shares of Caterpillar stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total value of $1,175,940.00. Following the completion of the sale, the insider now directly owns 2,757 shares in the company, valued at approximately $647,895. The disclosure for this sale can be found here. Insiders sold a total of 11,577 shares of company stock worth $2,663,056 in the last ninety days. 0.18% of the stock is owned by corporate insiders.
About Caterpillar (Get Rating)
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
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