McIlrath & Eck LLC cut its position in Caterpillar Inc. (NYSE:CAT) by 32.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 462 shares of the industrial products company’s stock after selling 223 shares during the quarter. McIlrath & Eck LLC’s holdings in Caterpillar were worth $58,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park National Corp OH increased its holdings in shares of Caterpillar by 2.1% in the 2nd quarter. Park National Corp OH now owns 9,257 shares of the industrial products company’s stock worth $1,261,000 after buying an additional 186 shares during the last quarter. Private Asset Management Inc. increased its holdings in shares of Caterpillar by 10.0% in the 2nd quarter. Private Asset Management Inc. now owns 10,156 shares of the industrial products company’s stock worth $1,384,000 after buying an additional 926 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of Caterpillar by 7.3% in the 2nd quarter. Fulton Bank N.A. now owns 4,122 shares of the industrial products company’s stock worth $562,000 after buying an additional 279 shares during the last quarter. Anderson Hoagland & Co. increased its holdings in shares of Caterpillar by 1.7% in the 2nd quarter. Anderson Hoagland & Co. now owns 25,232 shares of the industrial products company’s stock worth $3,023,000 after buying an additional 420 shares during the last quarter. Finally, Rockland Trust Co. increased its holdings in shares of Caterpillar by 12.0% in the 2nd quarter. Rockland Trust Co. now owns 3,165 shares of the industrial products company’s stock worth $431,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 65.74% of the company’s stock.
A number of equities analysts have recently commented on CAT shares. Citigroup decreased their price target on shares of Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. UBS Group decreased their price target on shares of Caterpillar to $110.00 and set a “sell” rating on the stock in a report on Thursday, October 24th. Deutsche Bank increased their price target on shares of Caterpillar from $113.00 to $123.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Bank of America increased their price target on shares of Caterpillar from $154.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Cleveland Research reissued a “hold” rating on shares of Caterpillar in a report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus price target of $138.76.
In other Caterpillar news, insider Denise C. Johnson sold 4,172 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total value of $611,907.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Suzette M. Long sold 5,019 shares of the firm’s stock in a transaction 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 sale, the general counsel now directly owns 12,569 shares in the company, valued at approximately $1,587,967.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,141 shares of company stock worth $13,717,142. 0.37% of the stock is owned by insiders.
Shares of CAT stock traded up $1.15 on Friday, hitting $148.16. 2,714,785 shares of the company’s stock traded hands, compared to its average volume of 4,321,513. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.44. Caterpillar Inc. has a one year low of $111.75 and a one year high of $148.40. The company’s fifty day simple moving average is $131.66 and its 200 day simple moving average is $129.08. The stock has a market capitalization of $80.89 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.54 and a beta of 1.53.
Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.82 by ($0.16). Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The business had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $13.49 billion. During the same period in the prior year, the business posted $2.86 EPS. Caterpillar’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 10.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio is currently 36.72%.
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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