Garrett Investment Advisors LLC lifted its stake in shares of Caterpillar Inc. (NYSE: CAT – Get Rating) by 7.3% during the first quarter, Holdings Channel.com reports. The firm owned 2,046 shares of the industrial products company stock after buying an additional 139 shares during the period. Garrett Investment Advisors LLC’s holdings in Caterpillar were worth $ 456,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC lifted its holdings in Caterpillar by 322.6% in the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company stock valued at $ 27,000 after buying an additional 100 shares during the period. SkyView Investment Advisors LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $ 31,000. Sierra Capital LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $ 38,000. KB Financial Partners LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $ 41,000. Finally, IMA Wealth Inc. acquired a new position in Caterpillar in the fourth quarter valued at approximately $ 41,000. Institutional investors and hedge funds own 67.44% of the company stock.
In other news, insider Joseph E. Creed sold 2,757 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $ 214.13, for a total transaction of $ 590,356.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan bought 600 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were bought at an average price of $ 219.82 per share, with a total value of $ 131,892.00. Following the purchase, the director now owns 2,480 shares in the company, valued at approximately $ 545,153.60. The disclosure for this purchase can be found here. Insiders have sold 11,577 shares of company stock valued at $ 2,663,056 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.
CAT has been the topic of several analyst reports. Robert W. Baird restated an “outperform” rating and issued a $ 280.00 price objective on shares of Caterpillar in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Caterpillar from $ 250.00 to $ 240.00 in a research note on Friday, April 29th. Tigress Financial upped their target price on shares of Caterpillar from $ 278.00 to $ 282.00 and gave the company a “buy” rating in a research note on Friday, May 20th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $ 241.00 to $ 257.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Finally, Wells Fargo & Company began coverage on shares of Caterpillar in a research note on Friday, March 11th. They issued an “equal weight” rating and a $ 231.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $ 243.71.
Shares of CAT stock opened at $ 192.64 on Friday. The firm has a fifty day moving average of $ 214.38 and a 200-day moving average of $ 210.74. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48. Caterpillar Inc. has a 12-month low of $ 179.67 and a 12-month high of $ 237.90. The company has a market capitalization of $ 102.74 billion, a price-to-earnings ratio of 16.15, a P / E / G ratio of 1.27 and a beta of 0.94.
Caterpillar (NYSE: CAT – Get Rating) last announced its earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 EPS for the quarter, topping the consensus estimate of $ 2.60 by $ 0.28. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The business had revenue of $ 13.60 billion during the quarter, compared to analysts’ expectations of $ 13.49 billion. During the same quarter in the prior year, the company posted $ 2.87 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 12.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be issued a dividend of $ 1.20 per share. This is a boost from Caterpillar’s previous quarterly dividend of $ 1.11. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $ 4.80 annualized dividend and a yield of 2.49%. Caterpillar’s dividend payout ratio is presently 37.22%.
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.
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE: CAT – Get Rating).
Receive News & Ratings for Caterpillar Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Caterpillar and related companies with MarketBeat.com’s FREE daily email newsletter.