APG Asset Management N.V. Continues to Hold Position in Caterpillar, Inc. (CAT)
APG Asset Management N.V. held its stake in shares of Caterpillar, Inc. (NYSE:CAT) during the second quarter, Holdings Channel reports. The firm owned 752,799 shares of the industrial products company’s stock at the end of the second quarter. APG Asset Management N.V.’s holdings in Caterpillar were worth $80,896,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in CAT. FMR LLC boosted its stake in shares of Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Caterpillar during the first quarter worth $143,490,000. Morgan Stanley boosted its stake in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of Caterpillar by 507.9% in the first quarter. Cibc World Markets Corp now owns 1,276,465 shares of the industrial products company’s stock worth $118,405,000 after buying an additional 1,066,492 shares during the last quarter. Institutional investors and hedge funds own 70.53% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE CAT) traded up 0.12% during mid-day trading on Friday, hitting $113.29. The stock had a trading volume of 990,670 shares. The stock has a market capitalization of $66.95 billion, a price-to-earnings ratio of 632.91 and a beta of 1.25. The stock’s 50-day moving average price is $109.51 and its 200-day moving average price is $101.06. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $115.46.
Caterpillar (NYSE:CAT) last announced 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 company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be issued a $0.78 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, July 18th. This represents a $3.12 annualized dividend and a dividend yield of 2.76%. Caterpillar’s payout ratio is 2,080.00%.
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A number of analysts have recently weighed in on CAT shares. Bank of America Corporation upgraded Caterpillar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $105.00 to $120.00 in a research report on Thursday, May 11th. Stifel Nicolaus dropped their price target on Caterpillar from $111.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, April 26th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Friday, June 16th. Vetr cut Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price target on the stock. in a research report on Tuesday, April 25th. Finally, Deutsche Bank AG cut Caterpillar from a “buy” rating to a “hold” rating and dropped their price target for the stock from $121.00 to $106.00 in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $107.15.
In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders sold a total of 201,471 shares of company stock valued at $22,979,332 in the last three months. 0.15% of the stock is owned by company insiders.
Caterpillar Company Profile
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