Wedge Capital Management L L P NC Acquires New Position in Caterpillar Inc. (NYSE:CAT)

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Wedge Capital Management L L P NC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,537 shares of the industrial products company’s stock, valued at approximately $227,000.

Several other hedge funds have also made changes to their positions in CAT. Fisher Asset Management LLC grew its holdings in shares of Caterpillar by 8,442.2% in the third quarter. Fisher Asset Management LLC now owns 5,376,797 shares of the industrial products company’s stock valued at $679,143,000 after purchasing an additional 5,313,853 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Caterpillar by 1,092.5% in the second quarter. Nuveen Asset Management LLC now owns 4,518,229 shares of the industrial products company’s stock valued at $615,789,000 after purchasing an additional 4,139,332 shares in the last quarter. Hexavest Inc. grew its holdings in shares of Caterpillar by 253.0% in the fourth quarter. Hexavest Inc. now owns 461,879 shares of the industrial products company’s stock valued at $68,210,000 after purchasing an additional 331,018 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Caterpillar by 20.2% in the third quarter. California Public Employees Retirement System now owns 1,336,454 shares of the industrial products company’s stock valued at $168,808,000 after purchasing an additional 224,308 shares in the last quarter. Finally, Johanson Financial Advisors Inc. grew its holdings in shares of Caterpillar by 11,441.7% in the fourth quarter. Johanson Financial Advisors Inc. now owns 193,092 shares of the industrial products company’s stock valued at $1,307,000 after purchasing an additional 191,419 shares in the last quarter. Hedge funds and other institutional investors own 64.96% of the company’s stock.

A number of brokerages recently weighed in on CAT. UBS Group dropped their price objective on shares of Caterpillar to $110.00 and set a “sell” rating for the company in a report on Thursday, October 24th. Citigroup lifted their price objective on shares of Caterpillar from $145.00 to $170.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group lifted their price objective on shares of Caterpillar from $150.00 to $173.00 and gave the company an “outperform” rating in a report on Friday. Deutsche Bank lifted their price objective on shares of Caterpillar from $123.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, Standpoint Research cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $147.19.

NYSE CAT opened at $147.78 on Tuesday. 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 Inc. has a 52 week low of $111.75 and a 52 week high of $150.55. The stock has a market capitalization of $81.67 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.59 and a beta of 1.52. The firm has a 50 day moving average of $146.27 and a two-hundred day moving average of $134.79.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 EPS 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 analyst estimates of $13.49 billion. During the same quarter last year, the firm earned $2.86 EPS. The company’s revenue was down 5.6% on a year-over-year basis. On average, equities research analysts expect that Caterpillar Inc. will post 10.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, January 17th. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.

In other Caterpillar news, CAO Gary Michael Marvel sold 2,180 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $139.38, for a total transaction of $303,848.40. Following the completion of the transaction, the chief accounting officer now owns 2,180 shares in the company, valued at approximately $303,848.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise C. Johnson sold 4,172 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $146.67, for a total transaction of $611,907.24. The disclosure for this sale can be found here. Insiders have sold a total of 90,122 shares of company stock valued at $13,083,041 in the last quarter. 0.37% of the stock is currently owned by company insiders.

About Caterpillar

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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