Norway Savings Bank increased its holdings in Caterpillar Inc. (NYSE: CAT – Get Rating) by 135.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,302 shares of the industrial products company stock after acquiring an additional 1,325 shares during the quarter. Norway Savings Bank’s holdings in Caterpillar were worth $ 513,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Teamwork Financial Advisors LLC raised its position in Caterpillar by 358.5% during the 4th quarter. Teamwork Financial Advisors LLC now owns 9,432 shares of the industrial products company stock worth $ 1,950,000 after buying an additional 7,375 shares during the last quarter. Park National Corp OH lifted its holdings in shares of Caterpillar by 7.5% in the 4th quarter. Park National Corp OH now owns 8,981 shares of the industrial products company stock valued at $ 1,857,000 after buying an additional 630 shares during the period. Deutsche Bank AG boosted its stake in shares of Caterpillar by 6.4% in the fourth quarter. Deutsche Bank AG now owns 1,769,205 shares of the industrial products company stock valued at $ 365,767,000 after buying an additional 106,731 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in Caterpillar by 3.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,666 shares of the industrial products company stock worth $ 758,000 after acquiring an additional 106 shares during the period. Finally, Legacy Wealth Planning LLC acquired a new stake in Caterpillar in the fourth quarter valued at $ 205,000. Institutional investors and hedge funds own 67.44% of the company stock.
A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of 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 research report on Tuesday, March 8th. Wells Fargo & Company assumed coverage on shares of Caterpillar in a research note on Friday, March 11th. They set an “equal weight” rating and a $ 231.00 price objective for the company. StockNews.com initiated coverage on Caterpillar in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Tigress Financial raised their price target on Caterpillar from $ 278.00 to $ 282.00 and gave the stock a “buy” rating in a research report on Friday, May 20th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $ 280.00 price target on shares of Caterpillar in a report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $ 243.71.
Shares of NYSE CAT opened at $ 192.64 on Tuesday. The firm has a market cap of $ 102.74 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.27 and a beta of 0.94. Caterpillar Inc. has a 1 year low of $ 179.67 and a 1 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’s 50-day simple moving average is $ 213.91 and its 200-day simple moving average is $ 210.80.
Caterpillar (NYSE: CAT – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $ 13.49 billion. During the same period in the prior year, the company posted $ 2.87 EPS. The business’s revenue was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Caterpillar Inc. will post 12.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be issued a $ 1.20 dividend. The ex-dividend date of this dividend is Tuesday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $ 1.11. This represents a $ 4.80 annualized dividend and a dividend yield of 2.49%. Caterpillar’s payout ratio is 37.22%.
In related news, 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 transaction of $ 1,175,940.00. Following the sale, the insider now directly owns 2,757 shares in the company, valued at $ 647,895. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Maclennan purchased 600 shares of the company stock in a transaction on Thursday, May 5th. The shares were bought at an average price of $ 219.82 per share, for a total transaction of $ 131,892.00. Following the completion of the transaction, the director now directly owns 2,480 shares in the company, valued at approximately $ 545,153.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 11,577 shares of company stock valued at $ 2,663,056. Insiders own 0.18% of the company stock.
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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