Marks Group Wealth Management Inc raised its stake in Caterpillar Inc. (NYSE: CAT – Get Rating) by 63.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,790 shares of the industrial products company stock after buying an additional 698 shares during the period. Marks Group Wealth Management Inc’s holdings in Caterpillar were worth $ 368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Cornell Pochily Investment Advisors Inc. boosted its position in Caterpillar by 0.7% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 6,784 shares of the industrial products company stock valued at $ 1,403,000 after buying an additional 46 shares during the period. Indiana Trust & Investment Management CO lifted its position in shares of Caterpillar by 1.5% in the 4th quarter. Indiana Trust & Investment Management CO now owns 3,396 shares of the industrial products company stock worth $ 702,000 after purchasing an additional 50 shares during the period. Curated Wealth Partners LLC lifted its position in shares of Caterpillar by 3.6% in the 4th quarter. Curated Wealth Partners LLC now owns 1,453 shares of the industrial products company stock worth $ 303,000 after purchasing an additional 50 shares during the period. REDW Wealth LLC lifted its position in shares of Caterpillar by 2.7% in the 4th quarter. REDW Wealth LLC now owns 1,878 shares of the industrial products company stock worth $ 388,000 after purchasing an additional 50 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its position in shares of Caterpillar by 1.6% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 3,198 shares of the industrial products company stock worth $ 614,000 after purchasing an additional 51 shares during the period. 67.44% of the stock is owned by institutional investors.
CAT has been the subject of several research reports. StockNews.com initiated coverage on shares of Caterpillar in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird reissued an “outperform” rating and set a $ 280.00 target price on shares of Caterpillar in a research report on Thursday, May 19th. Tigress Financial increased their target price on shares of Caterpillar from $ 278.00 to $ 282.00 and gave the company a “buy” rating in a research report on Friday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $ 241.00 to $ 257.00 and gave the company an “overweight” rating in a research report on Monday, March 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Caterpillar from $ 250.00 to $ 240.00 in a research report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Buy” and an average target price of $ 243.71.
Shares of Caterpillar stock opened at $ 192.64 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.93 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 firm has a market capitalization of $ 102.74 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.28 and a beta of 0.94. The firm’s 50 day simple moving average is $ 214.38 and its two-hundred day simple moving average is $ 210.61.
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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $ 13.49 billion. During the same quarter in the prior year, the business posted $ 2.87 EPS. Caterpillar’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, sell-side analysts predict that Caterpillar Inc. will post 12.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be paid a $ 1.20 dividend. The ex-dividend date is Tuesday, July 19th. This represents a $ 4.80 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Caterpillar’s previous quarterly dividend of $ 1.11. Caterpillar’s dividend payout ratio is presently 37.22%.
In other news, General Counsel Suzette M. Long sold 3,816 shares of the stock in a transaction 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 sale, the general counsel now owns 10,549 shares in the company, valued at $ 2,479,015. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph E. Creed sold 5,004 shares of the firm’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $ 235.00, for a total transaction of $ 1,175,940.00. Following the sale, the insider now owns 2,757 shares in the company, valued at approximately $ 647,895. The disclosure for this sale can be found here. Insiders sold 11,577 shares of company stock worth $ 2,663,056 in the last quarter. Company insiders own 0.18% of the company stock.
About Caterpillar: (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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