Chemical Bank trimmed its position in Caterpillar Inc. (NYSE:CAT) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,306 shares of the industrial products company’s stock after selling 4,207 shares during the period. Chemical Bank’s holdings in Caterpillar were worth $4,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in shares of Caterpillar by 16.9% during the 3rd quarter. Global Retirement Partners LLC now owns 2,493 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 360 shares in the last quarter. Private Capital Group LLC boosted its stake in shares of Caterpillar by 10.7% during the 2nd quarter. Private Capital Group LLC now owns 3,759 shares of the industrial products company’s stock worth $509,000 after acquiring an additional 362 shares in the last quarter. Courier Capital LLC boosted its stake in shares of Caterpillar by 8.0% during the 2nd quarter. Courier Capital LLC now owns 4,992 shares of the industrial products company’s stock worth $677,000 after acquiring an additional 371 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Caterpillar by 1.1% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 34,837 shares of the industrial products company’s stock worth $4,726,000 after acquiring an additional 372 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its stake in shares of Caterpillar by 6.2% during the 2nd quarter. Financial Advocates Investment Management now owns 6,379 shares of the industrial products company’s stock worth $869,000 after acquiring an additional 374 shares in the last quarter. 66.56% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Caterpillar from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Stifel Nicolaus lowered their target price on shares of Caterpillar from $168.00 to $142.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Daiwa Capital Markets set a $120.00 target price on shares of Caterpillar and gave the stock a “hold” rating in a research note on Thursday, October 25th. DZ Bank raised shares of Caterpillar to a “hold” rating and lowered their target price for the stock from $127.00 to $119.00 in a research note on Wednesday, October 24th. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $158.55.
CAT opened at $126.91 on Friday. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $173.24. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market cap of $79.72 billion, a P/E ratio of 18.45, a P/E/G ratio of 0.74 and a beta of 1.58.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $13.28 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, sell-side analysts expect that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be given a dividend of $0.86 per share. The ex-dividend date is Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.71%. Caterpillar’s dividend payout ratio (DPR) is presently 50.00%.
In related news, insider Lange Bob De purchased 1,080 shares of Caterpillar stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $115.58 per share, for a total transaction of $124,826.40. Following the transaction, the insider now directly owns 11,310 shares in the company, valued at $1,307,209.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
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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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