Bridges Investment Counsel Inc. Increases Position in Caterpillar, Inc. (CAT)
Bridges Investment Counsel Inc. increased its position in shares of Caterpillar, Inc. (NYSE:CAT) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,332 shares of the industrial products company’s stock after buying an additional 516 shares during the period. Bridges Investment Counsel Inc.’s holdings in Caterpillar were worth $573,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Howe & Rusling Inc. increased its position in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Caterpillar during the first quarter worth approximately $107,000. First Personal Financial Services increased its position in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after buying an additional 750 shares during the last quarter. Harfst & Associates Inc. bought a new position in shares of Caterpillar during the first quarter worth approximately $111,000. Finally, Financial Architects Inc increased its position in shares of Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after buying an additional 65 shares during the last quarter. Institutional investors own 70.53% of the company’s stock.
Caterpillar, Inc. (NYSE:CAT) traded down 0.27% on Friday, hitting $112.85. The company’s stock had a trading volume of 2,130,558 shares. The company has a 50 day moving average price of $109.77 and a 200-day moving average price of $101.19. The company has a market capitalization of $66.69 billion, a P/E ratio of 630.45 and a beta of 1.25. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $115.46.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $10.96 billion. During the same period last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be issued a $0.78 dividend. The ex-dividend date is Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 2.76%. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
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Several equities analysts have recently issued reports on the company. Credit Suisse Group reiterated a “buy” rating and set a $123.00 price objective on shares of Caterpillar in a research report on Thursday, June 22nd. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price objective for the company. in a research report on Tuesday, April 25th. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Stifel Nicolaus reiterated a “hold” rating and set a $125.00 price objective on shares of Caterpillar in a research report on Sunday, July 30th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $110.00 price objective on shares of Caterpillar in a research report on Wednesday, June 21st. Two investment 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. The company has an average rating of “Hold” and an average target price of $107.15.
In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the 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 sale, the insider now directly owns 18,188 shares in the company, valued at $2,078,888.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,471 shares of company stock worth $22,979,332. Company insiders own 0.15% of the company’s stock.
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