MPS Loria Financial Planners LLC acquired a new position in shares of Caterpillar, Inc. (NYSE:CAT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,783 shares of the industrial products company’s stock, valued at approximately $316,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Beach Investment Management LLC. bought a new position in shares of Caterpillar in the second quarter valued at approximately $231,000. NGAM Advisors L.P. grew its holdings in shares of Caterpillar by 2.9% in the second quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock valued at $8,742,000 after acquiring an additional 2,286 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Caterpillar by 527.0% in the first quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after acquiring an additional 164,989 shares in the last quarter. Bancorpsouth Inc. grew its holdings in shares of Caterpillar by 1.2% in the first quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock valued at $537,000 after acquiring an additional 69 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Caterpillar in the first quarter valued at approximately $46,917,000. 69.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Caterpillar, Inc. (CAT) opened at $137.54 on Wednesday. The stock has a market capitalization of $81,226.29, a price-to-earnings ratio of 24.60, a P/E/G ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. Caterpillar, Inc. has a 12-month low of $90.34 and a 12-month high of $140.44.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. analysts expect that Caterpillar, Inc. will post 6.4 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be paid a $0.78 dividend. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.27%. Caterpillar’s dividend payout ratio is presently 216.67%.
CAT has been the subject of several recent analyst reports. BMO Capital Markets raised Caterpillar from a “market perform” rating to an “outperform” rating and upped their target price for the company from $110.00 to $125.00 in a report on Monday, July 24th. BidaskClub lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $133.00 target price (up from $123.00) on shares of Caterpillar in a report on Wednesday, July 26th. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and a consensus target price of $133.92.
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In related news, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the transaction, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the transaction, the director now directly owns 6,554 shares in the company, valued at approximately $898,487.86. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
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