Private Ocean LLC Acquires 100 Shares of Caterpillar Inc. (NYSE:CAT)
Private Ocean LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 62.9% in the third quarter, HoldingsChannel reports. The firm owned 259 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Private Ocean LLC’s holdings in Caterpillar were worth $33,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Tortoise Investment Management LLC boosted its holdings in Caterpillar by 3,600.0% in the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $27,000. G&S Capital LLC acquired a new position in shares of Caterpillar during the third quarter valued at about $38,000. Kavar Capital Partners LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $46,000. Finally, Garrett Wealth Advisory Group LLC acquired a new position in shares of Caterpillar during the third quarter valued at about $47,000. Hedge funds and other institutional investors own 65.74% of the company’s stock.
NYSE:CAT traded up $1.15 during mid-day trading on Friday, hitting $148.16. The company’s stock had a trading volume of 2,714,785 shares, compared to its average volume of 4,321,513. Caterpillar Inc. has a fifty-two week low of $111.75 and a fifty-two week high of $148.40. The company has a current ratio of 1.44, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company 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. The stock has a fifty day moving average of $131.66 and a 200-day moving average of $129.08.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.
CAT has been the subject of a number of research analyst reports. Credit Suisse Group reaffirmed a “buy” rating and set a $150.00 price objective on shares of Caterpillar in a research report on Thursday, October 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $155.00 price objective on shares of Caterpillar in a research report on Wednesday, October 23rd. Stephens initiated coverage on shares of Caterpillar in a research report on Wednesday, August 14th. They set an “underweight” rating and a $100.00 price objective for the company. Wells Fargo & Co lowered shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price objective for the company. in a research report on Wednesday, September 11th. Finally, Buckingham Research lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and cut their price objective for the company from $162.00 to $140.00 in a research report on Thursday, July 25th. Four equities 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 currently has a consensus rating of “Hold” and a consensus target price of $138.76.
In other Caterpillar news, insider Denise C. Johnson sold 4,172 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total transaction of $611,907.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Suzette M. Long sold 5,019 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $126.34, for a total transaction of $634,100.46. Following the sale, the general counsel now directly owns 12,569 shares in the company, valued at $1,587,967.46. The disclosure for this sale can be found here. Insiders sold 95,141 shares of company stock valued at $13,717,142 in the last three months. Company insiders own 0.37% of the company’s stock.
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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