Fifth Third Bancorp boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,499 shares of the industrial products company’s stock after buying an additional 36,009 shares during the period. Fifth Third Bancorp’s holdings in Caterpillar were worth $42,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Acropolis Investment Management LLC acquired a new position in Caterpillar during the 3rd quarter valued at about $100,000. Sound Income Strategies LLC increased its position in Caterpillar by 181.8% during the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after buying an additional 429 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new position in Caterpillar during the 3rd quarter valued at about $106,000. Avestar Capital LLC increased its position in Caterpillar by 92.3% during the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after buying an additional 477 shares in the last quarter. Finally, Providence Capital Advisors LLC acquired a new position in Caterpillar during the 3rd quarter valued at about $118,000. 66.86% of the stock is currently owned by institutional investors.
In other news, 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 value of $5,404,163.18. Following the sale, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lange Bob De bought 1,080 shares of the stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $115.58 per share, for a total transaction of $124,826.40. Following the purchase, the insider now directly owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.
Shares of CAT stock opened at $123.55 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $75.75 billion, a PE ratio of 17.96, a PEG ratio of 0.53 and a beta of 1.61. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The business had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. During the same period in the prior year, the company earned $1.95 earnings per share. The company’s revenue was up 18.4% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 11.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd were paid a $0.86 dividend. The ex-dividend date was Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.78%. Caterpillar’s payout ratio is 50.00%.
CAT has been the topic of several recent analyst reports. Bank of America raised Caterpillar from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $163.00 in a research report on Monday, December 3rd. Credit Suisse Group reduced their target price on Caterpillar from $210.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. UBS Group set a $185.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, September 5th. Wells Fargo & Co set a $145.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 24th. Finally, Robert W. Baird set a $171.00 price objective on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $158.90.
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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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