Haverford Trust Co. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,717 shares of the industrial products company’s stock after selling 525 shares during the quarter. Haverford Trust Co.’s holdings in Caterpillar were worth $722,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Park National Corp OH lifted its holdings in shares of Caterpillar by 2.1% in the second quarter. Park National Corp OH now owns 9,257 shares of the industrial products company’s stock valued at $1,261,000 after buying an additional 186 shares during the period. Private Asset Management Inc. raised its position in shares of Caterpillar by 10.0% during the second quarter. Private Asset Management Inc. now owns 10,156 shares of the industrial products company’s stock worth $1,384,000 after purchasing an additional 926 shares during the period. Fulton Bank N.A. raised its position in shares of Caterpillar by 7.3% during the second quarter. Fulton Bank N.A. now owns 4,122 shares of the industrial products company’s stock worth $562,000 after purchasing an additional 279 shares during the period. Anderson Hoagland & Co. raised its position in shares of Caterpillar by 1.7% during the second quarter. Anderson Hoagland & Co. now owns 25,232 shares of the industrial products company’s stock worth $3,023,000 after purchasing an additional 420 shares during the period. Finally, Rockland Trust Co. raised its position in Caterpillar by 12.0% during the second quarter. Rockland Trust Co. now owns 3,165 shares of the industrial products company’s stock valued at $431,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 65.74% of the company’s stock.
Shares of NYSE:CAT traded up $1.15 during trading on Friday, hitting $148.16. 2,714,785 shares of the company were exchanged, compared to its average volume of 4,321,513. The company has a market capitalization of $80.89 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. Caterpillar Inc. has a 1-year low of $111.75 and a 1-year high of $148.40. The business’s 50 day moving average is $131.66 and its 200-day moving average is $129.08. The company has a quick ratio of 0.99, a current ratio of 1.44 and a debt-to-equity ratio of 1.71.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing the Zacks’ consensus estimate of $2.82 by ($0.16). The firm had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $13.49 billion. Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $2.86 EPS. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 10.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 annualized dividend and a yield of 2.78%. Caterpillar’s dividend payout ratio (DPR) is 36.72%.
In other news, insider Denise C. Johnson sold 68,993 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $146.37, for a total transaction of $10,098,505.41. Also, General Counsel Suzette M. Long sold 5,019 shares of the firm’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 completion of the transaction, the general counsel now directly owns 12,569 shares of the company’s stock, valued at $1,587,967.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,141 shares of company stock valued at $13,717,142. Company insiders own 0.37% of the company’s stock.
Several brokerages have weighed in on CAT. Wells Fargo & Co lowered Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price on the stock. in a research report on Wednesday, September 11th. Robert W. Baird increased their target price on Caterpillar from $141.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley decreased their target price on Caterpillar from $145.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $155.00 price target on shares of Caterpillar in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Caterpillar in a report on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $138.76.
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.
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