KAMES CAPITAL plc acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,182 shares of the industrial products company’s stock, valued at approximately $2,423,000.
Several other hedge funds have also recently made changes to their positions in the company. Morgan Stanley increased its stake in Caterpillar by 4.2% during the second quarter. Morgan Stanley now owns 4,367,073 shares of the industrial products company’s stock worth $595,189,000 after acquiring an additional 174,165 shares during the last quarter. Manning & Napier Group LLC grew its position in Caterpillar by 30.4% in the second quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock worth $20,770,000 after buying an additional 35,530 shares during the last quarter. Atalanta Sosnoff Capital LLC grew its position in Caterpillar by 3.6% in the second quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after buying an additional 120 shares during the last quarter. Krueger & Catalano Capital Partners LLC boosted its stake in Caterpillar by 6.4% in the 2nd quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock worth $667,000 after purchasing an additional 293 shares during the period. Finally, Cahill Financial Advisors Inc. boosted its stake in Caterpillar by 2.7% in the 2nd quarter. Cahill Financial Advisors Inc. now owns 8,240 shares of the industrial products company’s stock worth $1,124,000 after purchasing an additional 218 shares during the period. 64.97% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CAT. Wells Fargo & Co lowered shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price for the company. in a research note on Wednesday, September 11th. Robert W. Baird dropped their target price on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley downgraded shares of Caterpillar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $150.00 to $145.00 in a report on Friday. Finally, Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $137.42.
Shares of CAT stock traded up $1.19 during mid-day trading on Monday, hitting $131.90. The stock had a trading volume of 2,933,297 shares, compared to its average volume of 3,382,049. Caterpillar Inc. has a 12-month low of $111.75 and a 12-month high of $144.77. The firm has a market capitalization of $74.30 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 0.95 and a beta of 1.52. The firm’s 50-day moving average is $125.55 and its two-hundred day moving average is $129.12. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00.
Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. Caterpillar’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 11.58 EPS for the current year.
The firm also recently announced 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 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s payout ratio is 36.72%.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of the business’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 transaction, the general counsel now owns 12,569 shares in the company, valued at approximately $1,587,967.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.
Caterpillar Company Profile
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.
Featured Article: Understanding Options Trading
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.