Caterpillar, Inc. (NYSE:CAT) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.26 by $0.23, Bloomberg Earnings reports. Caterpillar had a negative net margin of 0.38% and a positive return on equity of 16.46%. The company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business earned $1.09 earnings per share. Caterpillar’s revenue was up 9.6% compared to the same quarter last year. Caterpillar updated its FY17 guidance to $5.00 EPS.

Caterpillar (NYSE:CAT) traded up 4.65% during trading on Tuesday, reaching $113.21. 6,686,517 shares of the company were exchanged. The firm’s market cap is $66.69 billion. The firm has a 50-day moving average of $106.41 and a 200-day moving average of $99.30. Caterpillar has a 52-week low of $78.74 and a 52-week high of $114.00.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be paid a $0.78 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.88%. Caterpillar’s dividend payout ratio (DPR) is currently -1,155.51%.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Midwest Bank Trust Division boosted its position in shares of Caterpillar by 75.6% in the second quarter. First Midwest Bank Trust Division now owns 25,324 shares of the industrial products company’s stock worth $2,722,000 after buying an additional 10,901 shares in the last quarter. Carl Domino Inc purchased a new position in shares of Caterpillar during the second quarter worth about $212,000. Greenleaf Trust boosted its position in shares of Caterpillar by 8.0% in the second quarter. Greenleaf Trust now owns 4,015 shares of the industrial products company’s stock worth $431,000 after buying an additional 299 shares in the last quarter. Puplava Financial Services Inc. boosted its position in shares of Caterpillar by 80.3% in the second quarter. Puplava Financial Services Inc. now owns 36,011 shares of the industrial products company’s stock worth $3,870,000 after buying an additional 16,043 shares in the last quarter. Finally, Investment Partners Ltd. OH ADV boosted its position in shares of Caterpillar by 5.0% in the second quarter. Investment Partners Ltd. OH ADV now owns 7,156 shares of the industrial products company’s stock worth $769,000 after buying an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.

CAT has been the topic of several analyst reports. Zacks Investment Research lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Wednesday, March 29th. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $89.96 price target on the stock in a research note on Monday, April 3rd. Bank of America Corporation upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their price target for the company from $105.00 to $120.00 in a research note on Thursday, May 11th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 price target on the stock in a research note on Thursday, April 27th. Finally, Axiom Securities restated a “sell” rating on shares of Caterpillar in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $98.51.

Caterpillar Company Profile

Earnings History for Caterpillar (NYSE:CAT)

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