DAVENPORT & Co LLC Has $9.89 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)


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DAVENPORT & Co LLC trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 18.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,632 shares of the industrial products company’s stock after selling 9,861 shares during the period. DAVENPORT & Co LLC’s holdings in Caterpillar were worth $9,885,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brand Asset Management Group Inc. acquired a new position in Caterpillar in the 1st quarter valued at approximately $26,000. IronBridge Private Wealth LLC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $30,000. HBC Financial Services PLLC bought a new stake in Caterpillar during the fourth quarter valued at approximately $31,000. Flagship Private Wealth LLC bought a new stake in Caterpillar during the fourth quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Caterpillar during the fourth quarter worth approximately $33,000. Institutional investors own 67.48% of the company’s stock.

Shares of CAT opened at $228.17 on Tuesday. The company has a market cap of $124.42 billion, a PE ratio of 37.97, a P/E/G ratio of 2.14 and a beta of 0.97. The business has a fifty day moving average of $229.81 and a 200 day moving average of $196.91. Caterpillar Inc. has a 52-week low of $100.22 and a 52-week high of $237.78. The company has a quick ratio of 1.08, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11 billion. During the same period last year, the company earned $1.60 earnings per share. Caterpillar’s revenue was up 11.8% on a year-over-year basis. As a group, research analysts anticipate that Caterpillar Inc. will post 5.44 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 20th. Investors of record on Monday, April 26th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Friday, April 23rd. Caterpillar’s dividend payout ratio (DPR) is 37.25%.

Several brokerages recently commented on CAT. Barclays lifted their target price on shares of Caterpillar from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, January 15th. Jefferies Financial Group boosted their price objective on shares of Caterpillar from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, January 15th. Credit Suisse Group boosted their price objective on shares of Caterpillar from $228.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, February 1st. Vertical Research began coverage on shares of Caterpillar in a report on Wednesday, January 20th. They set a “buy” rating and a $230.00 target price on the stock. Finally, Morgan Stanley boosted their target price on shares of Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a report on Friday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. Caterpillar has an average rating of “Hold” and a consensus target price of $205.37.

In other Caterpillar news, insider Denise C. Johnson sold 80,695 shares of the firm’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $219.82, for a total transaction of $17,738,374.90. Following the completion of the transaction, the insider now owns 38,945 shares of the company’s stock, valued at $8,560,889.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Suzette M. Long sold 59,311 shares of Caterpillar stock in a transaction on Monday, March 8th. The shares were sold at an average price of $219.67, for a total value of $13,028,847.37. Following the completion of the sale, the general counsel now directly owns 33,320 shares of the company’s stock, valued at approximately $7,319,404.40. The disclosure for this sale can be found here. Insiders have sold 145,062 shares of company stock worth $31,884,447 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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