Natixis Advisors L.P. decreased its position in Caterpillar Inc. (NYSE:CAT) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 293,552 shares of the industrial products company’s stock after selling 16,758 shares during the quarter. Natixis Advisors L.P. owned 0.05% of Caterpillar worth $68,065,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Monument Capital Management lifted its holdings in shares of Caterpillar by 1.1% in the 4th quarter. Monument Capital Management now owns 17,822 shares of the industrial products company’s stock worth $3,244,000 after purchasing an additional 191 shares during the last quarter. Clarius Group LLC lifted its holdings in shares of Caterpillar by 12.1% in the 4th quarter. Clarius Group LLC now owns 4,740 shares of the industrial products company’s stock worth $863,000 after purchasing an additional 512 shares during the last quarter. Gillespie Robinson & Grimm Inc. bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $315,000. NBT Bank N A NY lifted its holdings in shares of Caterpillar by 2.2% in the 4th quarter. NBT Bank N A NY now owns 24,055 shares of the industrial products company’s stock worth $4,378,000 after purchasing an additional 523 shares during the last quarter. Finally, Oak Harvest Investment Services bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $4,071,000. Institutional investors own 67.48% of the company’s stock.
In other Caterpillar news, Director David Maclennan acquired 420 shares of the business’s stock in a transaction that occurred on Wednesday, May 5th. The stock was acquired at an average price of $237.86 per share, with a total value of $99,901.20. Following the transaction, the director now owns 890 shares of the company’s stock, valued at $211,695.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Denise C. Johnson sold 80,695 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $219.82, for a total value of $17,738,374.90. Following the transaction, the insider now directly owns 38,945 shares of the company’s stock, valued at approximately $8,560,889.90. The disclosure for this sale can be found here. Insiders have sold a total of 145,062 shares of company stock valued at $31,884,447 in the last three months. 0.31% of the stock is owned by insiders.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that Caterpillar Inc. will post 5.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 20th. Investors of record on Monday, April 26th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, April 23rd. This represents a $4.12 annualized dividend and a dividend yield of 1.70%. Caterpillar’s dividend payout ratio is presently 37.25%.
CAT has been the topic of several recent analyst reports. Evercore ISI lifted their target price on Caterpillar from $240.00 to $303.00 in a research note on Wednesday. Barclays lifted their target price on Caterpillar from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, January 15th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $205.00 to $237.00 and gave the company an “overweight” rating in a research note on Wednesday, March 3rd. Morgan Stanley lifted their target price on Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a research note on Thursday, May 6th. Finally, BMO Capital Markets lifted their target price on Caterpillar from $190.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, May 6th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. Caterpillar has an average rating of “Hold” and an average price target of $216.35.
Caterpillar Company Profile
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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