Captrust Financial Advisors purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,666 shares of the industrial products company’s stock, valued at approximately $2,941,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Caterpillar by 6.5% during the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after buying an additional 2,297,750 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Caterpillar by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 6,212,261 shares of the industrial products company’s stock worth $976,845,000 after buying an additional 323,920 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after buying an additional 3,324,051 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Caterpillar by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 2,955,916 shares of the industrial products company’s stock worth $368,648,000 after buying an additional 11,745 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Caterpillar by 7.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,346,538 shares of the industrial products company’s stock worth $369,768,000 after buying an additional 169,795 shares in the last quarter. 69.28% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on CAT. Citigroup lifted their target price on shares of Caterpillar from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st. Vetr raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.44 target price on the stock in a research report on Monday, January 29th. Bank of America reissued a “buy” rating and set a $189.00 target price (up previously from $158.00) on shares of Caterpillar in a research report on Friday, January 12th. ValuEngine raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, UBS Group set a $180.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a report on Friday, January 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $169.06.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same period in the previous year, the business earned $0.83 EPS. Caterpillar’s revenue was up 34.7% compared to the same quarter last year. equities analysts predict that Caterpillar Inc. will post 9.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.02%. Caterpillar’s dividend payout ratio (DPR) is currently 247.62%.
In other news, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the transaction, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the transaction, the insider now owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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