Burns J W & Co. Inc. NY raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,670 shares of the industrial products company’s stock after buying an additional 100 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Caterpillar were worth $211,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Tortoise Investment Management LLC grew its position in shares of Caterpillar by 3,600.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 180 shares during the period. Prestige Wealth Management Group LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $27,000. Kavar Capital Partners LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $46,000. Sound Income Strategies LLC grew its position in shares of Caterpillar by 23.5% in the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 72 shares during the period. Finally, Exane Derivatives acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $54,000. Institutional investors and hedge funds own 64.95% of the company’s stock.
In other news, General Counsel Suzette M. Long sold 5,019 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $126.34, for a total transaction of $634,100.46. Following the sale, the general counsel now owns 12,569 shares in the company, valued at approximately $1,587,967.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.
CAT has been the subject of several research analyst reports. Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a research report on Monday, September 30th. Citigroup decreased their price objective on Caterpillar from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Robert W. Baird decreased their price objective on Caterpillar from $161.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. ValuEngine upgraded Caterpillar from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $149.00 price objective (down from $165.00) on shares of Caterpillar in a research report on Friday. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $137.66.
NYSE:CAT opened at $128.40 on Friday. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $144.77. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average price of $123.42 and a two-hundred day moving average price of $129.20. The company has a market cap of $72.24 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 0.84 and a beta of 1.52.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period last year, the company earned $2.97 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Caterpillar Inc. will post 11.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, October 18th. Caterpillar’s dividend payout ratio (DPR) is currently 36.72%.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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