Global Financial Private Capital LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,410 shares of the industrial products company’s stock after selling 2,810 shares during the quarter. Global Financial Private Capital LLC’s holdings in Caterpillar were worth $3,570,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Fisher Asset Management LLC grew its holdings in shares of Caterpillar by 11.1% during the second quarter. Fisher Asset Management LLC now owns 7,501 shares of the industrial products company’s stock worth $1,018,000 after buying an additional 752 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in Caterpillar by 2.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock valued at $8,446,000 after purchasing an additional 1,367 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Caterpillar by 68.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 4,380 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 1,785 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in Caterpillar by 5.6% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 122,974 shares of the industrial products company’s stock valued at $16,683,000 after purchasing an additional 6,503 shares in the last quarter. Finally, FormulaFolio Investments LLC purchased a new stake in Caterpillar in the 2nd quarter valued at approximately $887,000. 66.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CAT opened at $126.91 on Friday. The company has a market cap of $79.72 billion, a PE ratio of 12.50, a PEG ratio of 0.74 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.48. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.03. The business had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.95 EPS. Analysts expect that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Friday, October 19th. Caterpillar’s dividend payout ratio (DPR) is 50.00%.
In other news, insider Denise C. Johnson sold 35,051 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the sale, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lange Bob De purchased 1,080 shares of the firm’s stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the purchase, the insider now directly owns 11,310 shares in the company, valued at $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.
CAT has been the topic of a number of analyst reports. Goldman Sachs Group lowered Caterpillar from a “conviction-buy” rating to a “buy” rating in a report on Monday, July 16th. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Tuesday, July 17th. William Blair reaffirmed a “hold” rating on shares of Caterpillar in a report on Monday, July 30th. Barclays lowered Caterpillar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $170.00 to $155.00 in a report on Tuesday, July 31st. Finally, Royal Bank of Canada lifted their price objective on Caterpillar to $166.00 and gave the company a “sector perform” rating in a report on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $158.55.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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