HighTower Trust Services LTA raised its position in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,985 shares of the industrial products company’s stock after acquiring an additional 68 shares during the period. HighTower Trust Services LTA’s holdings in Caterpillar were worth $1,111,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Caterpillar during the fourth quarter worth $1,103,021,000. Capital World Investors boosted its position in Caterpillar by 11.6% during the fourth quarter. Capital World Investors now owns 13,262,687 shares of the industrial products company’s stock valued at $2,741,910,000 after acquiring an additional 1,373,656 shares during the last quarter. Invesco Ltd. boosted its position in Caterpillar by 15.2% during the fourth quarter. Invesco Ltd. now owns 4,864,120 shares of the industrial products company’s stock valued at $1,005,607,000 after acquiring an additional 643,392 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Caterpillar during the fourth quarter valued at $91,786,000. Finally, Shellback Capital LP bought a new position in shares of Caterpillar during the 4th quarter worth about $62,022,000. Institutional investors and hedge funds own 67.44% of the company’s stock.
In other news, insider Joseph E. Creed sold 2,757 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total value of $590,356.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Suzette M. Long sold 3,816 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $235.00, for a total value of $896,760.00. Following the completion of the transaction, the general counsel now directly owns 10,549 shares of the company’s stock, valued at $2,479,015. The disclosure for this sale can be found here. Insiders have sold 11,577 shares of company stock worth $2,663,056 over the last ninety days. 0.18% of the stock is owned by insiders.
Shares of NYSE:CAT opened at $178.29 on Friday. The company has a market cap of $95.09 billion, a P/E ratio of 14.94, a PEG ratio of 1.18 and a beta of 1.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.93 and a current ratio of 1.44. Caterpillar Inc. has a one year low of $173.72 and a one year high of $237.90. The business’s 50-day simple moving average is $206.46 and its 200-day simple moving average is $209.62.
Caterpillar (NYSE:CAT – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.22. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.49 billion. During the same period in the previous year, the business earned $2.87 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts predict 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 given a dividend of $1.20 per share. The ex-dividend date is Tuesday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.69%. Caterpillar’s payout ratio is 37.22%.
A number of equity research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Caterpillar in a report on Friday, March 11th. They issued an “equal weight” rating and a $231.00 target price on the stock. Robert W. Baird restated an “outperform” rating and issued a $280.00 price objective on shares of Caterpillar in a research report on Thursday, May 19th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group raised shares of Caterpillar from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $260.00 in a report on Tuesday, March 8th. Finally, JPMorgan Chase & Co. raised their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.50.
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.
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.