WealthTrust Axiom LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,873 shares of the industrial products company’s stock, valued at approximately $236,000.
Several other large investors have also modified their holdings of the company. Tortoise Investment Management LLC increased its stake in Caterpillar by 3,600.0% in the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC bought a new stake in Caterpillar in the second quarter valued at $27,000. Private Ocean LLC increased its position in shares of Caterpillar by 62.9% during the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. G&S Capital LLC bought a new stake in shares of Caterpillar during the third quarter worth about $38,000. Finally, Kavar Capital Partners LLC bought a new stake in shares of Caterpillar during the second quarter worth about $46,000. Institutional investors own 65.74% of the company’s stock.
In related news, insider Denise C. Johnson sold 4,172 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total transaction of $611,907.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Gary Michael Marvel sold 2,180 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $139.38, for a total transaction of $303,848.40. Following the transaction, the chief accounting officer now owns 2,180 shares in the company, valued at $303,848.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,141 shares of company stock worth $13,717,142. 0.37% of the stock is owned by corporate insiders.
Several research firms have recently commented on CAT. Wells Fargo & Co downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price for the company. in a research report on Wednesday, September 11th. Robert W. Baird boosted their target price on shares of Caterpillar from $141.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reissued a “buy” rating and set a $155.00 target price on shares of Caterpillar in a research report on Wednesday, October 23rd. Bank of America boosted their target price on shares of Caterpillar from $154.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Credit Suisse Group reissued a “buy” rating and set a $150.00 target price on shares of Caterpillar in a research report on Thursday, October 24th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $138.76.
Caterpillar stock traded up $1.15 during midday trading on Friday, hitting $148.16. 2,714,785 shares of the stock were exchanged, compared to its average volume of 4,321,513. Caterpillar Inc. has a 52-week low of $111.75 and a 52-week high of $148.40. The stock has a market capitalization of $80.89 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. The business’s 50-day moving average price is $131.66 and its 200-day moving average price is $129.08. The company has a quick ratio of 0.99, a current ratio of 1.44 and a debt-to-equity ratio of 1.71.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The firm had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $13.49 billion. During the same quarter last year, the firm posted $2.86 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Caterpillar Inc. will post 10.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, October 18th. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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