18,554 Shares in Caterpillar, Inc. (CAT) Acquired by Gareth Morgan Investments Limited Partnership
Gareth Morgan Investments Limited Partnership purchased a new stake in shares of Caterpillar, Inc. (NYSE:CAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 18,554 shares of the industrial products company’s stock, valued at approximately $1,994,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swiss National Bank lifted its position in shares of Caterpillar by 27.4% in the 1st quarter. Swiss National Bank now owns 2,073,016 shares of the industrial products company’s stock worth $192,293,000 after purchasing an additional 445,900 shares during the period. World Asset Management Inc lifted its position in shares of Caterpillar by 9.5% in the 1st quarter. World Asset Management Inc now owns 63,392 shares of the industrial products company’s stock worth $5,880,000 after purchasing an additional 5,512 shares during the period. Morse Asset Management Inc purchased a new stake in shares of Caterpillar in the 1st quarter worth about $923,000. Trust Co. of Virginia VA purchased a new stake in shares of Caterpillar in the 1st quarter worth about $292,000. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Caterpillar by 6.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,362,430 shares of the industrial products company’s stock worth $219,139,000 after purchasing an additional 143,477 shares during the period. 69.23% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on CAT. BMO Capital Markets raised their target price on shares of Caterpillar from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, September 14th. Credit Suisse Group reaffirmed a “buy” rating and issued a $123.00 target price on shares of Caterpillar in a research report on Thursday, June 22nd. Zacks Investment Research cut shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price for the company. in a research report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $118.88.
In other news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated 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 approximately $2,078,888.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.14% of the company’s stock.
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Shares of Caterpillar, Inc. (NYSE CAT) opened at 131.47 on Tuesday. The stock has a market cap of $77.70 billion, a P/E ratio of 734.47 and a beta of 1.25. Caterpillar, Inc. has a one year low of $80.33 and a one year high of $132.12. The stock’s 50 day moving average is $122.86 and its 200-day moving average is $109.54.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar, Inc. will post $5.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, October 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.37%. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.
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