Caterpillar Inc. (CAT) Position Raised by Parkside Financial Bank & Trust
Parkside Financial Bank & Trust boosted its stake in Caterpillar Inc. (NYSE:CAT) by 26.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,712 shares of the industrial products company’s stock after purchasing an additional 561 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Caterpillar were worth $428,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Quadrant Capital Group LLC increased its holdings in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Caterpillar in the fourth quarter valued at about $131,000. Massey Quick Simon & CO. LLC increased its holdings in Caterpillar by 4,240.7% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 1,145 shares during the last quarter. Finally, Sandy Spring Bank increased its holdings in Caterpillar by 61.9% in the fourth quarter. Sandy Spring Bank now owns 981 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.
In related news, General Counsel Suzette M. Long sold 528 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the transaction, the general counsel now directly owns 19,646 shares of the company’s stock, valued at $3,152,397.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Insiders have sold 143,331 shares of company stock valued at $22,107,578 over the last ninety days. 0.14% of the stock is owned by insiders.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.39. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. Caterpillar’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. research analysts anticipate that Caterpillar Inc. will post 9.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 2.14%. Caterpillar’s dividend payout ratio is currently 247.62%.
A number of research firms have issued reports on CAT. Citigroup boosted their target price on Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 target price for the company in a research note on Thursday, October 19th. Argus boosted their target price on Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Bank of America reissued a “buy” rating and issued a $189.00 target price (up from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. Finally, Credit Suisse Group boosted their target price on Caterpillar from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $167.80.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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