Wellington Shields Capital Management LLC Has $854,000 Holdings in Caterpillar Inc. (NYSE:CAT)

Wellington Shields Capital Management LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 25.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,450 shares of the industrial products company’s stock after selling 1,500 shares during the period. Wellington Shields Capital Management LLC’s holdings in Caterpillar were worth $854,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Caterpillar by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 47,434,967 shares of the industrial products company’s stock worth $10,323,272,000 after purchasing an additional 1,165,504 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Caterpillar by 2.3% during the 3rd quarter. BlackRock Inc. now owns 37,727,559 shares of the industrial products company’s stock worth $7,242,558,000 after purchasing an additional 838,706 shares in the last quarter. Capital International Investors grew its holdings in shares of Caterpillar by 3.3% during the 2nd quarter. Capital International Investors now owns 8,730,705 shares of the industrial products company’s stock worth $1,900,063,000 after purchasing an additional 276,648 shares in the last quarter. Geode Capital Management LLC boosted its stake in Caterpillar by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 8,517,215 shares of the industrial products company’s stock valued at $1,848,094,000 after buying an additional 185,421 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Caterpillar by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 6,836,104 shares of the industrial products company’s stock valued at $1,312,327,000 after buying an additional 192,752 shares in the last quarter. 67.22% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on CAT. Citigroup lifted their price objective on Caterpillar from $225.00 to $230.00 in a research report on Thursday. UBS Group upped their price objective on Caterpillar from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. Sanford C. Bernstein upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $240.00 price objective for the company in a report on Wednesday, December 22nd. Evercore ISI decreased their target price on Caterpillar from $291.00 to $257.00 and set an “outperform” rating for the company in a research note on Thursday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Caterpillar from $233.00 to $242.00 and gave the company a “buy” rating in a research report on Friday, December 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar has a consensus rating of “Buy” and a consensus price target of $236.89.

Shares of Caterpillar stock traded up $0.01 during trading on Friday, reaching $227.01. 42,620 shares of the stock were exchanged, compared to its average volume of 2,890,711. Caterpillar Inc. has a 1 year low of $179.34 and a 1 year high of $246.69. The firm has a market cap of $122.80 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.51 and a beta of 0.93. The stock’s fifty day moving average is $206.45 and its 200 day moving average is $206.14. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 1.63.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, October 28th. The industrial products company reported $2.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.40. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $12.46 billion. Caterpillar had a net margin of 10.64% and a return on equity of 34.41%. The company’s revenue was up 25.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. Equities analysts forecast that Caterpillar Inc. will post 10.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 18th. Shareholders of record on Thursday, January 20th will be issued a $1.11 dividend. The ex-dividend date is Wednesday, January 19th. This represents a $4.44 dividend on an annualized basis and a yield of 1.96%. Caterpillar’s dividend payout ratio is currently 47.49%.

In other news, insider Joseph E. Creed sold 5,038 shares of the business’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $204.09, for a total value of $1,028,205.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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