Caterpillar, Inc. (CAT) Stake Increased by Cutler Investment Counsel LLC
Cutler Investment Counsel LLC lifted its position in shares of Caterpillar, Inc. (NYSE:CAT) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,157 shares of the industrial products company’s stock after buying an additional 1,180 shares during the period. Caterpillar makes up approximately 2.6% of Cutler Investment Counsel LLC’s portfolio, making the stock its 13th largest position. Cutler Investment Counsel LLC’s holdings in Caterpillar were worth $10,440,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp increased its holdings in shares of Caterpillar by 25.5% during the 2nd quarter. Stifel Financial Corp now owns 456,577 shares of the industrial products company’s stock worth $49,038,000 after buying an additional 92,737 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $1,021,000. Zacks Investment Management acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $8,319,000. Voya Investment Management LLC increased its holdings in shares of Caterpillar by 1.5% during the 2nd quarter. Voya Investment Management LLC now owns 325,740 shares of the industrial products company’s stock worth $35,004,000 after buying an additional 4,870 shares during the last quarter. Finally, Bank of Hawaii increased its holdings in shares of Caterpillar by 38.8% during the 2nd quarter. Bank of Hawaii now owns 28,203 shares of the industrial products company’s stock worth $3,031,000 after buying an additional 7,888 shares during the last quarter. Institutional investors and hedge funds own 69.34% of the company’s stock.
Several analysts recently weighed in on the stock. BidaskClub upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Seaport Global Securities assumed coverage on shares of Caterpillar in a report on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 target price for the company. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 target price for the company. in a report on Tuesday, August 22nd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $146.00 target price (up previously from $133.00) on shares of Caterpillar in a report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and a consensus target price of $133.70.
In other Caterpillar news, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the transaction, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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Shares of Caterpillar, Inc. (NYSE:CAT) opened at 135.80 on Wednesday. The company has a 50-day moving average of $128.14 and a 200-day moving average of $112.85. Caterpillar, Inc. has a 12 month low of $80.33 and a 12 month high of $140.44. The stock has a market capitalization of $80.25 billion, a PE ratio of 758.66 and a beta of 1.26.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. On average, equities research analysts expect that Caterpillar, Inc. will post $6.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.30%. Caterpillar’s dividend payout ratio (DPR) is 216.67%.
Caterpillar Company Profile
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