Carlton Hofferkamp & Jenks Wealth Management LLC Sells 100 Shares of Caterpillar Inc. (NYSE:CAT)


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Carlton Hofferkamp & Jenks Wealth Management LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.0% in the first quarter, Holdings Channel reports. The institutional investor owned 1,327 shares of the industrial products company’s stock after selling 100 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Caterpillar were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Caterpillar by 109.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,041,360 shares of the industrial products company’s stock worth $2,373,788,000 after purchasing an additional 6,803,900 shares in the last quarter. Norges Bank purchased a new stake in shares of Caterpillar in the fourth quarter worth $878,514,000. FMR LLC increased its stake in shares of Caterpillar by 42.3% in the fourth quarter. FMR LLC now owns 6,019,787 shares of the industrial products company’s stock worth $1,095,721,000 after purchasing an additional 1,788,783 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Caterpillar by 23.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,444,897 shares of the industrial products company’s stock worth $627,039,000 after purchasing an additional 665,237 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Caterpillar by 11.9% in the fourth quarter. Morgan Stanley now owns 4,867,473 shares of the industrial products company’s stock worth $885,977,000 after purchasing an additional 519,151 shares in the last quarter. 67.48% of the stock is owned by institutional investors and hedge funds.

CAT stock traded down $1.51 during trading on Tuesday, reaching $226.66. The company had a trading volume of 52,206 shares, compared to its average volume of 3,226,169. The firm has a 50-day simple moving average of $229.81 and a 200-day simple moving average of $196.91. The company has a market cap of $123.60 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.08 and a current ratio of 1.54. Caterpillar Inc. has a twelve month low of $100.22 and a twelve month high of $237.78.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11 billion. Caterpillar had a net margin of 7.60% and a return on equity of 25.24%. Caterpillar’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the business earned $1.60 EPS. Sell-side analysts expect that Caterpillar Inc. will post 5.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Monday, April 26th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, April 23rd. Caterpillar’s payout ratio is 37.25%.

A number of analysts have recently issued reports on CAT shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of Caterpillar from $205.00 to $245.00 in a research note on Tuesday, March 16th. Barclays upped their target price on shares of Caterpillar from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, January 15th. BMO Capital Markets increased their price objective on shares of Caterpillar from $190.00 to $230.00 and gave the company a “market perform” rating in a research report on Friday. Vertical Research assumed coverage on shares of Caterpillar in a research report on Wednesday, January 20th. They set a “buy” rating and a $230.00 price objective for the company. Finally, Jefferies Financial Group increased their price objective on shares of Caterpillar from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, January 15th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $205.37.

In other news, General Counsel Suzette M. Long sold 59,311 shares of Caterpillar stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $219.67, for a total transaction of $13,028,847.37. Following the completion of the transaction, the general counsel now directly owns 33,320 shares of the company’s stock, valued at approximately $7,319,404.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Gary Michael Marvel sold 5,056 shares of Caterpillar stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $220.97, for a total transaction of $1,117,224.32. Following the transaction, the chief accounting officer now directly owns 5,623 shares of the company’s stock, valued at $1,242,514.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,062 shares of company stock valued at $31,884,447. Company insiders own 0.31% of the company’s stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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