Commonwealth Equity Services LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 312,912 shares of the industrial products company’s stock after acquiring an additional 5,130 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Caterpillar were worth $47,715,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC purchased a new stake in Caterpillar in the 3rd quarter worth $100,000. Sound Income Strategies LLC increased its holdings in Caterpillar by 181.8% in the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 429 shares in the last quarter. St. Johns Investment Management Company LLC purchased a new stake in Caterpillar in the 3rd quarter worth $106,000. Psagot Investment House Ltd. purchased a new stake in Caterpillar in the 3rd quarter worth $136,000. Finally, Landaas & Co. WI ADV purchased a new stake in Caterpillar in the 2nd quarter worth $130,000. 66.56% of the stock is owned by institutional investors.
In other news, insider Lange Bob De purchased 1,080 shares of the stock in a transaction dated Friday, October 26th. The shares were purchased at an average price of $115.58 per share, with a total value of $124,826.40. Following the transaction, the insider now owns 11,310 shares in the company, valued at approximately $1,307,209.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Denise C. Johnson sold 35,051 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the transaction, the insider now directly owns 22,826 shares in the company, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
Shares of CAT stock opened at $126.91 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market cap of $77.53 billion, a PE ratio of 12.15, a PEG ratio of 0.72 and a beta of 1.58. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.03. The firm had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $13.28 billion. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 EPS. As a group, analysts forecast that Caterpillar Inc. will post 11.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.71%. Caterpillar’s payout ratio is 50.00%.
Several equities research analysts recently commented on CAT shares. Stifel Nicolaus cut their price target 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. Credit Suisse Group dropped their target price on shares of Caterpillar from $210.00 to $183.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. UBS Group set a $185.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 5th. Wells Fargo & Co set a $145.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, Robert W. Baird set a $171.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $158.55.
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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