ClariVest Asset Management LLC Cuts Position in Caterpillar Inc. (CAT)

Share on StockTwits

ClariVest Asset Management LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 433,477 shares of the industrial products company’s stock after selling 32,665 shares during the quarter. Caterpillar comprises about 1.0% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. ClariVest Asset Management LLC owned 0.07% of Caterpillar worth $58,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lee Financial Co raised its position in Caterpillar by 365.1% in the first quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 639 shares during the period. Ballew Advisors Inc purchased a new stake in shares of Caterpillar during the first quarter worth about $121,000. Stelac Advisory Services LLC purchased a new stake in shares of Caterpillar during the first quarter worth about $129,000. Front Row Advisors LLC increased its position in shares of Caterpillar by 125.0% during the first quarter. Front Row Advisors LLC now owns 900 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 500 shares during the last quarter. Finally, Landaas & Co. WI ADV purchased a new stake in shares of Caterpillar during the second quarter worth about $130,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on CAT shares. ValuEngine lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Goldman Sachs Group lowered Caterpillar from a “conviction-buy” rating to a “buy” rating in a research report on Monday, July 16th. Morgan Stanley lifted their target price on Caterpillar from $185.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Tuesday, July 17th. Finally, Bank of America lowered Caterpillar from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a research report on Thursday, May 3rd. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Caterpillar has a consensus rating of “Buy” and an average price target of $170.94.

NYSE:CAT opened at $139.06 on Friday. The stock has a market capitalization of $84.39 billion, a P/E ratio of 14.34, a PEG ratio of 0.93 and a beta of 1.38. Caterpillar Inc. has a one year low of $114.30 and a one year high of $173.24. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.24. The business had revenue of $14.01 billion during the quarter, compared to the consensus estimate of $14.09 billion. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm earned $1.49 earnings per share. analysts predict that Caterpillar Inc. will post 11.54 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Friday, July 20th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.47%. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, July 19th. Caterpillar’s dividend payout ratio (DPR) is 50.00%.

About Caterpillar

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.

See Also: Growth Stocks

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply