Caterpillar, Inc. (CAT) Position Reduced by Renaissance Group LLC
Renaissance Group LLC reduced its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,457 shares of the industrial products company’s stock after selling 2,583 shares during the quarter. Renaissance Group LLC’s holdings in Caterpillar were worth $1,429,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Baker Ellis Asset Management LLC bought a new stake in shares of Caterpillar in the second quarter valued at $104,000. Motco raised its stake in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares during the period. Acrospire Investment Management LLC raised its stake in shares of 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 buying an additional 900 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of Caterpillar in the first quarter valued at $107,000. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Caterpillar by 75.6% in the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock valued at $118,000 after buying an additional 496 shares during the period. Institutional investors and hedge funds own 68.61% of the company’s stock.
Caterpillar, Inc. (NYSE CAT) opened at $144.01 on Tuesday. Caterpillar, Inc. has a 52-week low of $90.34 and a 52-week high of $145.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The company has a market capitalization of $85,587.16, a PE ratio of 25.92, a P/E/G ratio of 2.17 and a beta of 1.29.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. equities research analysts predict that Caterpillar, Inc. will post 6.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s payout ratio is 216.67%.
In other Caterpillar news, insider Bradley M. Halverson sold 2,600 shares of Caterpillar stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $137.67, for a total transaction of $357,942.00. Following the completion of the sale, the insider now owns 5,214 shares of the company’s stock, valued at $717,811.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of Caterpillar stock in a transaction dated Friday, November 17th. The stock was 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. Over the last 90 days, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by company insiders.
Several analysts have issued reports on CAT shares. BMO Capital Markets restated a “buy” rating and issued a $130.00 target price on shares of Caterpillar in a research note on Friday, September 8th. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price on the stock. in a research note on Monday, September 11th. Jefferies Group restated a “hold” rating and issued a $100.00 target price on shares of Caterpillar in a research note on Tuesday, August 29th. Credit Suisse Group restated a “hold” rating and issued a $133.00 target price on shares of Caterpillar in a research note on Friday, September 22nd. Finally, Goldman Sachs Group lifted their price target on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus target price of $136.41.
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