Broadleaf Partners LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 57.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,204 shares of the industrial products company’s stock after selling 12,329 shares during the period. Broadleaf Partners LLC’s holdings in Caterpillar were worth $1,404,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Zacks Investment Management raised its holdings in Caterpillar by 12.7% in the 2nd quarter. Zacks Investment Management now owns 87,963 shares of the industrial products company’s stock valued at $11,934,000 after acquiring an additional 9,918 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in Caterpillar by 92.4% in the 2nd quarter. Hartford Financial Management Inc. now owns 24,696 shares of the industrial products company’s stock valued at $3,351,000 after acquiring an additional 11,860 shares during the last quarter. Old Port Advisors acquired a new position in Caterpillar in the 2nd quarter valued at $1,804,000. Xact Kapitalforvaltning AB raised its holdings in Caterpillar by 2.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock valued at $8,446,000 after acquiring an additional 1,367 shares during the last quarter. Finally, OmniStar Financial Group Inc. raised its holdings in Caterpillar by 8.0% in the 2nd quarter. OmniStar Financial Group Inc. now owns 9,890 shares of the industrial products company’s stock valued at $1,341,000 after acquiring an additional 734 shares during the last quarter. Institutional investors own 66.63% of the company’s stock.
Shares of NYSE CAT opened at $142.07 on Friday. Caterpillar Inc. has a 52-week low of $129.20 and a 52-week high of $173.24. The firm has a market cap of $90.63 billion, a PE ratio of 20.65, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Monday, July 30th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.24. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The company had revenue of $14.01 billion during the quarter, compared to analysts’ expectations of $14.09 billion. During the same period in the previous year, the company earned $1.49 EPS. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 11.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be given a dividend of $0.86 per share. The ex-dividend date is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a yield of 2.42%. Caterpillar’s dividend payout ratio (DPR) is 50.00%.
In related news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the completion of the sale, the insider now directly owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, October 8th. William Blair reiterated a “hold” rating on shares of Caterpillar in a report on Monday, July 30th. BMO Capital Markets cut their price target on Caterpillar from $195.00 to $185.00 and set an “outperform” rating for the company in a report on Tuesday, July 31st. They noted that the move was a valuation call. Robert W. Baird set a $155.00 price target on Caterpillar and gave the company a “hold” rating in a report on Tuesday, July 31st. Finally, Barclays downgraded Caterpillar from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $170.00 to $155.00 in a report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Caterpillar currently has an average rating of “Buy” and an average price target of $171.08.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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