Zions Bancorporation Has $3.02 Million Position in Caterpillar Inc. (CAT)
Zions Bancorporation lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,213 shares of the industrial products company’s stock after buying an additional 3,111 shares during the quarter. Zions Bancorporation’s holdings in Caterpillar were worth $3,020,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CAT. First Financial Equity Corporation purchased a new stake in shares of Caterpillar in the first quarter valued at approximately $411,000. Janus Capital Management LLC raised its holdings in Caterpillar by 56.1% during the first quarter. Janus Capital Management LLC now owns 1,083,531 shares of the industrial products company’s stock worth $100,509,000 after purchasing an additional 389,303 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in Caterpillar by 520.7% during the first quarter. Salem Investment Counselors Inc. now owns 30,763 shares of the industrial products company’s stock worth $2,854,000 after purchasing an additional 25,807 shares during the last quarter. FNY Partners Fund LP raised its holdings in Caterpillar by 199.1% during the first quarter. FNY Partners Fund LP now owns 3,200 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 2,130 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Caterpillar during the first quarter worth $46,917,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.
Several brokerages recently issued reports on CAT. ValuEngine cut Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Wells Fargo & Co set a $150.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. UBS Group set a $155.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 25th. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective for the company in a report on Thursday, October 19th. Finally, Citigroup lifted their price objective on Caterpillar from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Caterpillar currently has an average rating of “Hold” and a consensus target price of $139.93.
Caterpillar Inc. (CAT) opened at $155.75 on Friday. Caterpillar Inc. has a 1-year low of $90.34 and a 1-year high of $155.80. The firm has a market capitalization of $92,000.54, a price-to-earnings ratio of 108.16, a PEG ratio of 2.32 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04.
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, topping the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. equities research analysts anticipate that Caterpillar Inc. will post 6.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.00%. Caterpillar’s dividend payout ratio (DPR) is 216.67%.
In other news, insider Thomas A. Pellette sold 24,547 shares of Caterpillar stock in a transaction on Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley M. Halverson sold 2,600 shares of Caterpillar stock in a transaction on Monday, November 27th. The shares were sold at an average price of $137.67, for a total value of $357,942.00. Following the completion of the sale, the insider now directly owns 5,214 shares of the company’s stock, valued at approximately $717,811.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,989 shares of company stock valued at $7,235,850. Insiders own 0.14% of the company’s stock.
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