City Holding Co. lowered its position in shares of Caterpillar Inc. (NYSE: CAT – Get Rating) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,269 shares of the industrial products company stock after selling 222 shares during the quarter. City Holding Co.’s holdings in Caterpillar were worth $ 5,408,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Caterpillar by 11.6% in the fourth quarter. Capital World Investors now owns 13,262,687 shares of the industrial products company stock worth $ 2,741,910,000 after buying an additional 1,373,656 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Caterpillar by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 8,619,170 shares of the industrial products company stock worth $ 1,776,940,000 after buying an additional 52,169 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.5% in the fourth quarter. Fisher Asset Management LLC now owns 7,004,189 shares of the industrial products company stock worth $ 1,448,046,000 after buying an additional 168,085 shares in the last quarter. Norges Bank purchased a new position in shares of Caterpillar in the fourth quarter worth $ 1,103,021,000. Finally, Invesco Ltd. increased its position in Caterpillar by 15.2% in the fourth quarter. Invesco Ltd. now owns 4,864,120 shares of the industrial products company stock worth $ 1,005,607,000 after purchasing an additional 643,392 shares during the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Joseph E. Creed sold 2,757 shares of the company stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $ 214.13, for a total value of $ 590,356.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Maclennan acquired 600 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was acquired at an average cost of $ 219.82 per share, with a total value of $ 131,892.00. Following the completion of the purchase, the director now owns 2,480 shares of the company stock, valued at $ 545,153.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 11,577 shares of company stock worth $ 2,663,056. Company insiders own 0.18% of the company stock.
Several equities research analysts recently weighed in on CAT shares. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $ 241.00 to $ 257.00 and gave the stock an “overweight” rating in a research report on Monday, March 28th. Morgan Stanley reduced their price target on shares of Caterpillar from $ 164.00 to $ 161.00 and set an “underweight” rating on the stock in a research report on Thursday. Jefferies Financial Group upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and boosted their price target for the stock from $ 215.00 to $ 260.00 in a research report on Tuesday, March 8th. Robert W. Baird restated an “outperform” rating and issued a $ 280.00 price target on shares of Caterpillar in a research report on Thursday, May 19th. Finally, StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $ 243.50.
NYSE CAT opened at $ 185.49 on Friday. The company 50-day moving average price is $ 211.07 and its 200-day moving average price is $ 210.30. 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 stock has a market cap of $ 98.93 billion, a PE ratio of 15.55, a PEG ratio of 1.22 and a beta of 0.94. Caterpillar Inc. has a 12 month low of $ 176.02 and a 12 month high of $ 237.90.
Caterpillar (NYSE: CAT – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 EPS for the quarter, topping analysts’ consensus estimates of $ 2.66 by $ 0.22. The firm had revenue of $ 13.60 billion for the quarter, compared to analysts’ expectations of $ 13.49 billion. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $ 2.87 earnings per share. As a group, sell-side analysts forecast that Caterpillar Inc. will post 12.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be issued a $ 1.20 dividend. The ex-dividend date is Tuesday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $ 1.11. This represents a $ 4.80 dividend on an annualized basis and a dividend yield of 2.59%. Caterpillar’s dividend payout ratio is presently 37.22%.
Caterpillar 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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