Cornerstone Capital Management Holdings LLC. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,775 shares of the industrial products company’s stock after selling 13,173 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.07% of Caterpillar worth $62,365,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Circle Wealth Management LLC bought a new stake in Caterpillar during the 4th quarter valued at about $201,000. TIAA CREF Investment Management LLC increased its stake in Caterpillar by 17.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock valued at $635,902,000 after purchasing an additional 607,875 shares in the last quarter. Captrust Financial Advisors bought a new stake in Caterpillar during the 4th quarter valued at about $2,941,000. Raymond James & Associates increased its stake in Caterpillar by 8.9% during the 4th quarter. Raymond James & Associates now owns 468,344 shares of the industrial products company’s stock valued at $73,803,000 after purchasing an additional 38,356 shares in the last quarter. Finally, Ellington Management Group LLC bought a new stake in Caterpillar during the 4th quarter valued at about $772,000. 69.28% of the stock is owned by institutional investors.
Shares of Caterpillar Inc. (NYSE CAT) opened at $154.50 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73. The stock has a market cap of $94,574.28, a P/E ratio of 122.62, a P/E/G ratio of 1.45 and a beta of 1.23. Caterpillar Inc. has a 12-month low of $90.34 and a 12-month high of $173.24.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, January 22nd were given a dividend of $0.78 per share. The ex-dividend date was Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 2.02%. Caterpillar’s dividend payout ratio (DPR) is 247.62%.
In related news, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Suzette M. Long sold 528 shares of Caterpillar stock in a transaction that occurred 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 transaction, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
A number of analysts have weighed in on the stock. ValuEngine lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $169.96 price target for the company. in a research note on Tuesday, February 27th. Citigroup reiterated a “neutral” rating and issued a $185.00 price target (up from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. Jefferies Group reiterated a “hold” rating and issued a $170.00 price target on shares of Caterpillar in a research note on Friday, January 26th. Finally, Morgan Stanley started coverage on shares of Caterpillar in a research note on Friday, March 2nd. They issued an “overweight” rating and a $185.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $169.06.
COPYRIGHT VIOLATION NOTICE: “Cornerstone Capital Management Holdings LLC. Sells 13,173 Shares of Caterpillar Inc. (CAT)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/03/13/cornerstone-capital-management-holdings-llc-sells-13173-shares-of-caterpillar-inc-cat.html.
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.
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.