Golub Group LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,194 shares of the industrial products company’s stock after purchasing an additional 1,001 shares during the quarter. Golub Group LLC’s holdings in Caterpillar were worth $1,919,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its stake in Caterpillar by 3,600.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 180 shares during the period. Prestige Wealth Management Group LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $27,000. Private Ocean LLC boosted its position in shares of Caterpillar by 62.9% during the 3rd quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. G&S Capital LLC bought a new stake in shares of Caterpillar during the 3rd quarter valued at about $38,000. Finally, Kavar Capital Partners LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 65.74% of the company’s stock.
NYSE:CAT traded up $1.15 during mid-day trading on Friday, reaching $148.16. The stock had a trading volume of 2,714,785 shares, compared to its average volume of 4,321,513. The firm has a 50 day moving average price of $131.66 and a two-hundred day moving average price of $129.08. The stock has a market capitalization of $80.89 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.54 and a beta of 1.53. Caterpillar Inc. has a one year low of $111.75 and a one year high of $148.40. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.44.
Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.82 by ($0.16). The firm had revenue of $12.76 billion during the quarter, compared to the consensus estimate of $13.49 billion. Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.86 EPS. Research analysts forecast that Caterpillar Inc. will post 10.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a yield of 2.78%. Caterpillar’s dividend payout ratio (DPR) is currently 36.72%.
CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating and set a $155.00 price target on shares of Caterpillar in a research report on Wednesday, October 23rd. ValuEngine upgraded Caterpillar from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Buckingham Research downgraded Caterpillar from a “buy” rating to a “neutral” rating and dropped their price target for the company from $162.00 to $140.00 in a research report on Thursday, July 25th. Morgan Stanley dropped their price target on Caterpillar from $145.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Goldman Sachs Group lifted their price target on Caterpillar from $130.00 to $156.00 and gave the company a “neutral” rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $138.76.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of Caterpillar stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the transaction, the general counsel now directly owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise C. Johnson sold 4,172 shares of Caterpillar stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $146.67, for a total value of $611,907.24. The disclosure for this sale can be found here. Insiders sold a total of 95,141 shares of company stock worth $13,717,142 over the last ninety days. Insiders own 0.37% of the company’s stock.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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