NewEdge Advisors LLC grew its stake in Caterpillar Inc. (NYSE: CAT – Get Rating) by 61.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,629 shares of the industrial products company stock after purchasing an additional 18,120 shares during the period. NewEdge Advisors LLC’s holdings in Caterpillar were worth $ 9,846,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Two Sigma Advisers LP increased its holdings in Caterpillar by 870.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,000,600 shares of the industrial products company stock worth $ 384,055,000 after purchasing an additional 1,794,400 shares during the period. Capital World Investors increased its holdings in Caterpillar by 11.6% during the 4th quarter. Capital World Investors now owns 13,262,687 shares of the industrial products company stock worth $ 2,741,910,000 after purchasing an additional 1,373,656 shares during the period. Morgan Stanley increased its holdings in Caterpillar by 16.6% during the 2nd quarter. Morgan Stanley now owns 5,070,449 shares of the industrial products company stock worth $ 1,103,482,000 after purchasing an additional 721,439 shares during the period. Invesco Ltd. increased its holdings in Caterpillar by 15.2% during the 4th 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 period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Caterpillar during the 4th quarter worth $ 91,786,000. 67.44% of the stock is owned by institutional investors and hedge funds.
Shares of CAT opened at $ 206.00 on Thursday. The stock has a 50-day moving average of $ 215.29 and a two-hundred day moving average of $ 210.62. Caterpillar Inc. has a one year low of $ 179.67 and a one year high of $ 237.90. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.93 and a current ratio of 1.44. The stock has a market cap of $ 109.87 billion, a P / E ratio of 17.27, a P / E / G ratio of 1.42 and a beta of 0.94.
Caterpillar (NYSE: CAT – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 EPS for the quarter, topping analysts’ consensus estimates of $ 2.60 by $ 0.28. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The company had revenue of $ 13.60 billion during the quarter, compared to analysts’ expectations of $ 13.49 billion. During the same quarter in the previous year, the firm posted $ 2.87 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. Analysts predict that Caterpillar Inc. will post 12.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Wednesday, July 20th will be given a dividend of $ 1.20 per share. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $ 4.80 dividend on an annualized basis and a yield of 2.33%. This is a boost from Caterpillar’s previous quarterly dividend of $ 1.11. Caterpillar’s payout ratio is currently 37.22%.
In related news, Director David Maclennan acquired 600 shares of Caterpillar stock in a transaction on Thursday, May 5th. The stock was acquired at an average price of $ 219.82 per share, for a total transaction of $ 131,892.00. Following the purchase, the director now owns 2,480 shares of the company stock, valued at approximately $ 545,153.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph E. Creed sold 5,004 shares of Caterpillar stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $ 235.00, for a total value of $ 1,175,940.00. Following the transaction, the insider now owns 2,757 shares of the company stock, valued at approximately $ 647,895. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,577 shares of company stock valued at $ 2,663,056. 0.18% of the stock is currently owned by insiders.
Several research analysts have commented on CAT shares. Robert W. Baird restated an “outperform” rating and set a $ 280.00 price objective on shares of Caterpillar in a report on Thursday, May 19th. StockNews.com began coverage on Caterpillar in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group upgraded Caterpillar from a “hold” rating to a “buy” rating and lifted their price target for the company from $ 215.00 to $ 260.00 in a report on Tuesday, March 8th. Tigress Financial lifted their price target on Caterpillar from $ 278.00 to $ 282.00 and gave the company a “buy” rating in a report on Friday, May 20th. Finally, Wells Fargo & Company began coverage on Caterpillar in a report on Friday, March 11th. They issued an “equal weight” rating and a $ 231.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Buy” and a consensus target price of $ 243.71.
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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