Caterpillar Inc. (NYSE:CAT) Shares Acquired by Cove Private Wealth LLC

Cove Private Wealth LLC increased its position in Caterpillar Inc. (NYSE:CATFree Report) by 17.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,655 shares of the industrial products company’s stock after acquiring an additional 245 shares during the period. Cove Private Wealth LLC’s holdings in Caterpillar were worth $546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Northern Trust Corp grew its holdings in Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after buying an additional 724,477 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company’s stock valued at $1,429,416,000 after buying an additional 312,878 shares during the last quarter. GAMMA Investing LLC grew its holdings in Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after buying an additional 3,721,693 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after buying an additional 268,300 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.2%

NYSE:CAT opened at $416.43 on Monday. The business’s 50-day moving average is $393.37 and its two-hundred day moving average is $355.11. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The firm has a market capitalization of $195.09 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40.

Caterpillar (NYSE:CATGet Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.99 earnings per share. Research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. Caterpillar’s payout ratio is presently 30.72%.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of analyst reports. Bank of America increased their target price on Caterpillar from $460.00 to $495.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Barclays increased their target price on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Oppenheimer raised their price objective on Caterpillar from $395.00 to $483.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $444.00.

Get Our Latest Stock Analysis on Caterpillar

Caterpillar Profile

(Free Report)

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

Further Reading

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:CATFree Report).

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.