Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 18.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 177,200 shares of the industrial products company’s stock after purchasing an additional 27,400 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Caterpillar were worth $24,041,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Burney Co. grew its holdings in Caterpillar by 3.1% during the second quarter. Burney Co. now owns 14,993 shares of the industrial products company’s stock valued at $2,034,000 after purchasing an additional 452 shares during the period. Capital Wealth Planning LLC grew its holdings in Caterpillar by 29.5% during the second quarter. Capital Wealth Planning LLC now owns 17,870 shares of the industrial products company’s stock valued at $2,426,000 after purchasing an additional 4,070 shares during the period. Captrust Financial Advisors grew its holdings in Caterpillar by 15.9% during the second quarter. Captrust Financial Advisors now owns 19,637 shares of the industrial products company’s stock valued at $2,664,000 after purchasing an additional 2,701 shares during the period. Envestnet Asset Management Inc. grew its holdings in Caterpillar by 10.1% during the second quarter. Envestnet Asset Management Inc. now owns 60,263 shares of the industrial products company’s stock valued at $8,175,000 after purchasing an additional 5,546 shares during the period. Finally, Avestar Capital LLC grew its holdings in Caterpillar by 92.3% during the second quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.
Shares of CAT stock opened at $140.59 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.97 and a current ratio of 1.37. The firm has a market capitalization of $82.52 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37. Caterpillar Inc. has a 12 month low of $116.50 and a 12 month high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. analysts anticipate that Caterpillar Inc. will post 11.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Friday, July 20th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.78. Caterpillar’s payout ratio is currently 50.00%.
CAT has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Caterpillar from $174.00 to $168.00 and set a “hold” rating for the company in a report on Tuesday, August 7th. UBS Group set a $185.00 price target on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a report on Tuesday, July 17th. Argus reduced their price target on shares of Caterpillar from $185.00 to $165.00 and set a “buy” rating for the company in a report on Monday, August 13th. Finally, Morgan Stanley upped their price target on shares of Caterpillar from $185.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $172.22.
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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