6,986 Shares in Caterpillar, Inc. (NYSE:CAT) Acquired by Meridian Wealth Management LLC
Meridian Wealth Management LLC acquired a new stake in Caterpillar, Inc. (NYSE:CAT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,986 shares of the industrial products company’s stock, valued at approximately $648,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in Caterpillar during the first quarter valued at $46,917,000. FNY Partners Fund LP boosted its position in Caterpillar by 199.1% in the first quarter. FNY Partners Fund LP now owns 3,200 shares of the industrial products company’s stock valued at $296,000 after buying an additional 2,130 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Caterpillar by 520.7% in the first quarter. Salem Investment Counselors Inc. now owns 30,763 shares of the industrial products company’s stock valued at $2,854,000 after buying an additional 25,807 shares in the last quarter. Janus Capital Management LLC boosted its position in Caterpillar by 56.1% in the first quarter. Janus Capital Management LLC now owns 1,083,531 shares of the industrial products company’s stock valued at $100,509,000 after buying an additional 389,303 shares in the last quarter. Finally, First Financial Equity Corporation purchased a new position in Caterpillar during the first quarter valued at $411,000. 70.27% of the stock is owned by institutional investors.
Shares of Caterpillar, Inc. (NYSE CAT) traded up 1.14% during midday trading on Monday, hitting $114.14. The company’s stock had a trading volume of 543,494 shares. The stock’s 50 day moving average is $109.77 and its 200-day moving average is $101.19. Caterpillar, Inc. has a 52-week low of $79.93 and a 52-week high of $115.46. The firm has a market cap of $67.45 billion, a P/E ratio of 637.65 and a beta of 1.25.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Equities analysts predict that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be issued a dividend of $0.78 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, July 18th. Caterpillar’s dividend payout ratio is currently 2,080.00%.
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Several research analysts have recently weighed in on the company. Vetr raised Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective for the company in a research report on Thursday. Atlantic Securities raised Caterpillar from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $85.00 to $115.00 in a research report on Thursday, August 3rd. Argus reaffirmed a “buy” rating and set a $113.10 price objective (down from $130.00) on shares of Caterpillar in a research report on Wednesday, August 2nd. Tigress Financial raised Caterpillar from a “neutral” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $125.00 price objective on shares of Caterpillar in a research report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and a consensus price target of $107.15.
In other news, insider Bradley M. Halverson sold 182,612 shares of the 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the sale, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is currently owned by company insiders.
Caterpillar Company Profile
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