Traynor Capital Management Inc. boosted its stake in shares of Caterpillar Inc. (NYSE: CAT – Get Rating) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,320 shares of the industrial products company stock after purchasing an additional 982 shares during the quarter. Traynor Capital Management Inc.’s holdings in Caterpillar were worth $ 2,745,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of CAT. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Caterpillar by 149.0% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 3,616 shares of the industrial products company stock worth $ 816,000 after buying an additional 2,164 shares during the period. Capital Investment Advisors LLC grew its position in shares of Caterpillar by 1.2% in the first quarter. Capital Investment Advisors LLC now owns 41,317 shares of the industrial products company stock valued at $ 9,206,000 after purchasing an additional 482 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Caterpillar by 2.9% during the first quarter. Flagship Harbor Advisors LLC now owns 2,796 shares of the industrial products company stock worth $ 623,000 after purchasing an additional 78 shares during the period. TIAA FSB boosted its stake in Caterpillar by 245.1% in the 1st quarter. TIAA FSB now owns 91,802 shares of the industrial products company stock valued at $ 20,407,000 after purchasing an additional 65,202 shares during the period. Finally, Webster Bank NA grew its holdings in Caterpillar by 3.3% in the 1st quarter. Webster Bank NA now owns 15,102 shares of the industrial products company stock valued at $ 3,365,000 after buying an additional 484 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors.
In other Caterpillar news, insider Joseph E. Creed sold 2,757 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $ 214.13, for a total transaction of $ 590,356.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan purchased 600 shares of the company stock in a transaction dated Thursday, May 5th. The stock was purchased at an average price of $ 219.82 per share, for a total transaction of $ 131,892.00. Following 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 quarter, insiders sold 11,577 shares of company stock valued at $ 2,663,056. 0.18% of the stock is owned by company insiders.
Shares of NYSE: CAT opened at $ 187.83 on Thursday. 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 current ratio of 1.44 and a quick ratio of 0.93. The company has a market cap of $ 100.18 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.29 and a beta of 0.94. The firm has a 50 day simple moving average of $ 212.90 and a 200 day simple moving average of $ 210.54.
Caterpillar (NYSE: CAT – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 EPS for the quarter, beating analysts’ consensus estimates of $ 2.66 by $ 0.22. 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 period in the prior year, the company earned $ 2.87 EPS. Caterpillar’s revenue was up 14.4% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 12.64 EPS for the current year.
The company 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 of this dividend is Tuesday, July 19th. This represents a $ 4.80 annualized dividend and a dividend yield of 2.56%. This is an increase from Caterpillar’s previous quarterly dividend of $ 1.11. Caterpillar’s dividend payout ratio is currently 37.22%.
Several equities analysts recently commented on CAT shares. Wells Fargo & Company initiated coverage on shares of Caterpillar in a research note on Friday, March 11th. They issued an “equal weight” rating and a $ 231.00 price target on the stock. StockNews.com began coverage on shares of Caterpillar in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Jefferies Financial Group upgraded Caterpillar from a “hold” rating to a “buy” rating and boosted their price target for the company from $ 215.00 to $ 260.00 in a research note on Tuesday, March 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Caterpillar from $ 250.00 to $ 240.00 in a report on Friday, April 29th. Finally, Tigress Financial raised their target price on shares of Caterpillar from $ 278.00 to $ 282.00 and gave the company a “buy” rating in a report on Friday, May 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $ 243.71.
Caterpillar 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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