Ballentine Partners LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 34.4% in the fourth quarter, Holdings Channel reports. The fund owned 2,394 shares of the industrial products company’s stock after buying an additional 613 shares during the period. Ballentine Partners LLC’s holdings in Caterpillar were worth $377,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of CAT. Beach Investment Management LLC. purchased a new position in Caterpillar in the second quarter worth approximately $231,000. Buckingham Asset Management LLC lifted its position in shares of Caterpillar by 21.5% during the 2nd quarter. Buckingham Asset Management LLC now owns 5,053 shares of the industrial products company’s stock worth $543,000 after buying an additional 893 shares during the last quarter. Hudock Capital Group LLC lifted its position in shares of Caterpillar by 4.3% during the 2nd quarter. Hudock Capital Group LLC now owns 16,291 shares of the industrial products company’s stock worth $1,750,000 after buying an additional 668 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Caterpillar by 6.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 92,003 shares of the industrial products company’s stock worth $9,887,000 after buying an additional 5,629 shares during the last quarter. Finally, Homrich & Berg lifted its position in shares of Caterpillar by 10.5% during the 2nd quarter. Homrich & Berg now owns 2,739 shares of the industrial products company’s stock worth $294,000 after buying an additional 261 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.
Shares of Caterpillar Inc. (CAT) opened at $151.08 on Tuesday. Caterpillar Inc. has a 12-month low of $90.34 and a 12-month high of $173.24. The company has a market cap of $89,880.00, a price-to-earnings ratio of 119.90, a P/E/G ratio of 1.68 and a beta of 1.22. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $12.01 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. Caterpillar’s revenue for the quarter was up 34.7% on a year-over-year basis. equities analysts forecast that Caterpillar Inc. will post 9.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 2.07%. Caterpillar’s dividend payout ratio (DPR) is 247.62%.
CAT has been the subject of several recent analyst reports. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Vetr downgraded shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $139.26 price objective for the company. in a research report on Wednesday, December 27th. Goldman Sachs Group boosted their price objective on shares of Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. JPMorgan Chase & Co. upgraded shares of Caterpillar from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $161.96 to $200.00 in a research report on Monday, January 8th. Finally, Bank of America boosted their price objective on shares of Caterpillar from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Caterpillar currently has a consensus rating of “Buy” and a consensus target price of $167.80.
In other Caterpillar news, insider Jananne A. Copeland sold 3,247 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $136.95, for a total value of $444,676.65. Following the transaction, the insider now directly owns 8,908 shares of the company’s stock, valued at approximately $1,219,950.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas A. Pellette sold 24,547 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $135.69, for a total transaction of $3,330,782.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,331 shares of company stock valued at $22,107,578. 0.14% of the stock is owned by insiders.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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