Manning & Napier Group LLC reduced its stake in shares of Caterpillar Inc. (NYSE: CAT – Get Rating) by 7.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 176,743 shares of the industrial products company stock after selling 13,968 shares during the period. Manning & Napier Group LLC’s holdings in Caterpillar were worth $ 39,380,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC raised its holdings in Caterpillar by 322.6% during the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company stock worth $ 27,000 after buying an additional 100 shares during the period. Sierra Capital LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $ 38,000. IMA Wealth Inc. bought a new position in shares of Caterpillar during the 4th quarter worth approximately $ 41,000. DB Fitzpatrick & Co Inc bought a new position in shares of Caterpillar during the 4th quarter worth approximately $ 42,000. Finally, Lloyd Advisory Services LLC. grew its stake in shares of Caterpillar by 3,042.9% in the fourth quarter. Lloyd Advisory Services LLC. now owns 220 shares of the industrial products company stock valued at $ 45,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company stock.
In related news, Director David Maclennan bought 600 shares of Caterpillar stock in a transaction that occurred on Thursday, May 5th. The shares were acquired at an average cost of $ 219.82 per share, for a total transaction of $ 131,892.00. Following the completion of the acquisition, the director now directly owns 2,480 shares of the company stock, valued at approximately $ 545,153.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 3,816 shares of the company stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $ 235.00, for a total value of $ 896,760.00. Following the completion of the sale, the general counsel now owns 10,549 shares in the company, valued at $ 2,479,015. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,577 shares of company stock worth $ 2,663,056. Company insiders own 0.18% of the company stock.
Several equities analysts recently weighed in on CAT shares. JPMorgan Chase & Co. raised 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. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, June 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $ 280.00 price objective on shares of Caterpillar in a research report on Thursday, May 19th. Morgan Stanley reduced their price objective on shares of Caterpillar from $ 164.00 to $ 161.00 and set an “underweight” rating for the company in a research report on Thursday, June 23rd. Finally, Jefferies Financial Group raised shares of Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the stock from $ 215.00 to $ 260.00 in a research report on Tuesday, March 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $ 243.50.
Caterpillar stock opened at $ 187.44 on Wednesday. Caterpillar Inc. has a 12-month low of $ 176.02 and a 12-month high of $ 237.90. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48. The business’s 50-day moving average price is $ 209.33 and its two-hundred day moving average price is $ 210.07. The stock has a market cap of $ 99.97 billion, a PE ratio of 15.71, a P / E / G ratio of 1.22 and a beta of 0.94.
Caterpillar (NYSE: CAT – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 earnings per share for the quarter, topping the consensus estimate of $ 2.66 by $ 0.22. The company had revenue of $ 13.60 billion for the quarter, compared to analysts’ expectations of $ 13.49 billion. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $ 2.87 earnings per share. As a group, analysts expect that Caterpillar Inc. will post 12.64 earnings per share for the current year.
The company 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 dividend of $ 1.20 per share. This is a boost from Caterpillar’s previous quarterly dividend of $ 1.11. This represents a $ 4.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, July 19th. Caterpillar’s payout ratio is 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.
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