Beech Hill Advisors Inc. grew its stake in Caterpillar Inc. (NYSE: CAT – Get Rating) by 261.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,855 shares of the industrial products company stock after purchasing an additional 14,355 shares during the period. Caterpillar comprises about 1.8% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 17th biggest position. Beech Hill Advisors Inc.’s holdings in Caterpillar were worth $ 4,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Access Financial Services Inc. acquired a new stake in Caterpillar in the 1st quarter worth $ 259,000. Householder Group Estate & Retirement Specialist LLC grew its position in Caterpillar by 25.3% in the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,223 shares of the industrial products company stock worth $ 273,000 after purchasing an additional 247 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV lifted its holdings in shares of Caterpillar by 4.7% during the 1st quarter. Acorn Financial Advisory Services Inc. ADV now owns 1,193 shares of the industrial products company stock worth $ 266,000 after acquiring an additional 54 shares during the period. Procyon Advisors LLC lifted its holdings in shares of Caterpillar by 8.9% during the 1st quarter. Procyon Advisors LLC now owns 10,054 shares of the industrial products company stock worth $ 2,240,000 after acquiring an additional 823 shares during the period. Finally, WMG Financial Advisors LLC bought a new position in shares of Caterpillar during the 1st quarter worth about $ 387,000. Institutional investors own 67.44% of the company stock.
CAT has been the subject of a number of analyst reports. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird reaffirmed an “outperform” rating and set a $ 280.00 price objective on shares of Caterpillar in a report on Thursday, May 19th. Tigress Financial raised their objective price on shares of Caterpillar from $ 278.00 to $ 282.00 and gave the stock a “buy” rating in a report on Friday, May 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Caterpillar from $ 250.00 to $ 240.00 in a report on Friday, April 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $ 241.00 to $ 257.00 and gave the company an “overweight” rating in a report on Monday, March 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $ 243.50.
Shares of NYSE CAT opened at $ 187.59 on Tuesday. Caterpillar Inc. has a 1-year low of $ 176.02 and a 1-year high of $ 237.90. The company has a market cap of $ 100.05 billion, a PE ratio of 15.72, a P / E / G ratio of 1.22 and a beta of 0.94. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average of $ 210.22 and a two-hundred day moving average of $ 210.23.
Caterpillar (NYSE: CAT – Get Rating) last announced its earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $ 2.66 by $ 0.22. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The company had revenue of $ 13.60 billion during the quarter, compared to the estimate consensus of $ 13.49 billion. During the same period in the previous year, the firm posted $ 2.87 earnings per share. The company revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 12.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be given a dividend of $ 1.20 per share. This is a boost from Caterpillar’s previous quarterly dividend of $ 1.11. The ex-dividend date is Tuesday, July 19th. This represents a $ 4.80 annualized dividend and a dividend yield of 2.56%. Caterpillar’s payout ratio is currently 37.22%.
In other Caterpillar news, Director David Maclennan purchased 600 shares of the stock in a transaction dated Thursday, May 5th. The stock was bought at an average price of $ 219.82 per share, for a total transaction of $ 131,892.00. Following the transaction, the director now directly owns 2,480 shares in the company, valued at $ 545,153.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Suzette M. Long sold 3,816 shares of Caterpillar stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $ 235.00, for a total transaction of $ 896,760.00. Following the sale, the general counsel now owns 10,549 shares of the company stock, valued at approximately $ 2,479,015. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,577 shares of company stock valued at $ 2,663,056. 0.18% of the stock is owned by corporate insiders.
Caterpillar Company Profile: (Get Rating)
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
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