Aberdeen Group plc grew its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 434,586 shares of the industrial products company’s stock after buying an additional 17,826 shares during the period. Aberdeen Group plc’s holdings in Caterpillar were worth $168,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of CAT. Compass Financial Services Inc increased its position in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar during the second quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $33,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Caterpillar during the second quarter worth about $38,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $45,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on CAT. Citigroup lifted their target price on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Saturday, September 27th. Jefferies Financial Group raised their price target on Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird raised their price target on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Oppenheimer raised their price target on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average price target of $478.20.
Caterpillar Stock Performance
NYSE CAT opened at $491.67 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average is $443.23 and its two-hundred day moving average is $383.88. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $511.50. The stock has a market capitalization of $230.34 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 3.04 and a beta of 1.46.
Caterpillar (NYSE:CAT – Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.
Caterpillar Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.2%. Caterpillar’s payout ratio is presently 30.72%.
Insiders Place Their Bets
In other news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,819 shares of company stock worth $16,885,492. Company insiders own 0.33% of the company’s stock.
Caterpillar Company Profile
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.
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