Hayek Kallen Investment Management boosted its stake in Caterpillar Inc. (NYSE:CAT) by 12.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,930 shares of the industrial products company’s stock after acquiring an additional 955 shares during the period. Hayek Kallen Investment Management’s holdings in Caterpillar were worth $1,128,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of CAT. Tortoise Investment Management LLC increased its position 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 valued at $25,000 after acquiring an additional 180 shares during the period. Prestige Wealth Management Group LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth approximately $27,000. Private Ocean LLC grew its holdings in shares of Caterpillar by 62.9% in the 3rd quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 100 shares during the period. G&S Capital LLC acquired a new stake in shares of Caterpillar in the 3rd quarter worth approximately $38,000. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 65.74% of the company’s stock.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $126.34, for a total transaction of $634,100.46. Following the transaction, the general counsel now owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Denise C. Johnson sold 68,993 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $146.37, for a total value of $10,098,505.41. In the last three months, insiders have sold 95,141 shares of company stock worth $13,717,142. Corporate insiders own 0.37% of the company’s stock.
A number of research firms recently weighed in on CAT. Robert W. Baird upped their price target on Caterpillar from $141.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup lowered their price target on Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Co cut Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price target on the stock. in a report on Wednesday, September 11th. JPMorgan Chase & Co. restated a “buy” rating and issued a $155.00 price target on shares of Caterpillar in a report on Wednesday, October 23rd. Finally, Bank of America upped their price target on Caterpillar from $154.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and an average target price of $138.76.
CAT stock traded up $1.15 on Friday, reaching $148.16. The company had a trading volume of 2,714,785 shares, compared to its average volume of 4,321,513. Caterpillar Inc. has a 1 year low of $111.75 and a 1 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. The company’s fifty day moving average is $131.66 and its 200 day moving average is $129.08. The company has a market cap of $80.89 billion, a P/E ratio of 13.20, a PEG ratio of 1.54 and a beta of 1.53.
Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.16). Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The company had revenue of $12.76 billion during the quarter, compared to analysts’ expectations of $13.49 billion. During the same period in the previous year, the company posted $2.86 EPS. Caterpillar’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Caterpillar Inc. will post 10.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, October 18th. Caterpillar’s payout ratio is currently 36.72%.
Caterpillar Company Profile
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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