Regent Investment Management LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 4.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,400 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Regent Investment Management LLC’s holdings in Caterpillar were worth $535,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Crewe Advisors LLC grew its holdings in Caterpillar by 322.6% in the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Sierra Capital LLC bought a new stake in Caterpillar in the 4th quarter worth $38,000. IMA Wealth Inc. bought a new stake in Caterpillar in the 4th quarter worth $41,000. DB Fitzpatrick & Co Inc bought a new stake in Caterpillar in the 4th quarter worth $42,000. Finally, Lloyd Advisory Services LLC. grew its holdings in Caterpillar by 3,042.9% in the 4th quarter. Lloyd Advisory Services LLC. now owns 220 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 213 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors.
A number of equity research analysts have issued reports on CAT shares. Jefferies Financial Group raised shares of Caterpillar from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $260.00 in a report on Tuesday, March 8th. Tigress Financial lifted their target price on shares of Caterpillar from $278.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, May 20th. JPMorgan Chase & Co. lifted 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. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Caterpillar in a research note on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Caterpillar from $250.00 to $240.00 in a research note on Friday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.50.
In other Caterpillar news, Director David Maclennan bought 600 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The stock was bought at an average cost of $219.82 per share, for a total transaction of $131,892.00. Following the completion of the transaction, the director now owns 2,480 shares of the company’s stock, valued at approximately $545,153.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph E. Creed sold 5,004 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $647,895. The disclosure for this sale can be found here. Insiders have sold 11,577 shares of company stock valued at $2,663,056 over the last three months. 0.18% of the stock is owned by corporate insiders.
Shares of NYSE CAT opened at $187.44 on Wednesday. Caterpillar Inc. has a 1 year low of $176.02 and a 1 year high of $237.90. The stock has a market cap of $99.97 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.22 and a beta of 0.94. The firm has a 50-day moving average of $209.33 and a 200-day moving average of $210.07. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.44 and a quick ratio of 0.93.
Caterpillar (NYSE:CAT – Get Rating) last issued its earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.22. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.87 earnings per share. Research analysts expect that Caterpillar Inc. will post 12.64 earnings per share for the current fiscal year.
The business also recently disclosed 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 represents a $ 4.80 annualized dividend and a dividend yield of 2.56%. This is a boost from Caterpillar’s previous quarterly dividend of $ 1.11. The ex-dividend date of this dividend is Tuesday, July 19th. Caterpillar’s payout ratio is currently 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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