Caterpillar Inc. (CAT) Position Reduced by Oakbrook Investments LLC
Oakbrook Investments LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% during the first quarter, HoldingsChannel.com reports. The fund owned 243,148 shares of the industrial products company’s stock after selling 850 shares during the quarter. Caterpillar makes up approximately 2.0% of Oakbrook Investments LLC’s investment portfolio, making the stock its 14th largest position. Oakbrook Investments LLC’s holdings in Caterpillar were worth $32,944,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of CAT. Loeb Partners Corp bought a new stake in shares of Caterpillar in the fourth quarter valued at $25,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at $26,000. Bartlett & Co. LLC raised its stake in shares of Caterpillar by 150.0% in the fourth quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock valued at $32,000 after buying an additional 150 shares during the period. Paragon Capital Management LLC bought a new stake in shares of Caterpillar in the first quarter valued at $40,000. Finally, PRW Wealth Management LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 67.07% of the company’s stock.
NYSE:CAT opened at $142.38 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.96 and a current ratio of 1.37. Caterpillar Inc. has a 52-week low of $112.06 and a 52-week high of $161.60. The firm has a market cap of $82.51 billion, a P/E ratio of 12.69, a P/E/G ratio of 0.75 and a beta of 1.46.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be paid a dividend of $0.86 per share. The ex-dividend date is Thursday, April 18th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.42%. Caterpillar’s payout ratio is 30.66%.
CAT has been the topic of several research reports. Robert W. Baird set a $161.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, January 29th. Bank of America set a $152.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, January 29th. Morgan Stanley set a $160.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, January 29th. Credit Suisse Group restated a “buy” rating and issued a $173.00 target price on shares of Caterpillar in a research note on Thursday, February 14th. Finally, William Blair restated a “hold” rating on shares of Caterpillar in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $146.71.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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