Brown Advisory Securities LLC Lowers Position in Caterpillar, Inc. (CAT)
Brown Advisory Securities LLC reduced its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,380 shares of the industrial products company’s stock after selling 501 shares during the period. Brown Advisory Securities LLC’s holdings in Caterpillar were worth $873,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock valued at $3,603,500,000 after buying an additional 1,342,984 shares in the last quarter. FMR LLC raised its position in Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock valued at $1,628,992,000 after buying an additional 1,798,312 shares in the last quarter. Morgan Stanley raised its position in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after buying an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA raised its position in Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after buying an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after buying an additional 419,191 shares in the last quarter. Hedge funds and other institutional investors own 70.53% of the company’s stock.
Shares of Caterpillar, Inc. (CAT) traded up 0.27% during mid-day trading on Friday, reaching $113.46. 542,092 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $109.51 and its 200-day moving average is $101.06. Caterpillar, Inc. has a 52-week low of $79.93 and a 52-week high of $115.46. The stock has a market cap of $67.05 billion, a price-to-earnings ratio of 633.85 and a beta of 1.25.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the business earned $1.09 EPS. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts expect that Caterpillar, Inc. will post $5.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be paid a dividend of $0.78 per share. The ex-dividend date is Tuesday, July 18th. This is a boost 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%.
Several research analysts have weighed in on CAT shares. BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research note on Tuesday, June 6th. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a research note on Wednesday, July 26th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 price objective on the stock in a research note on Thursday, April 27th. Finally, Credit Suisse Group set a $123.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $107.15.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the firm’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 transaction, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,471 shares of company stock worth $22,979,332. Company insiders own 0.15% of the company’s stock.
Caterpillar Company Profile
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