Caterpillar, Inc. (CAT) Shares Bought by Spinnaker Trust
Spinnaker Trust lifted its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,131 shares of the industrial products company’s stock after acquiring an additional 1,878 shares during the period. Spinnaker Trust’s holdings in Caterpillar were worth $2,634,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fort Pitt Capital Group LLC increased its position in Caterpillar by 6.8% during the third quarter. Fort Pitt Capital Group LLC now owns 8,923 shares of the industrial products company’s stock worth $1,113,000 after buying an additional 569 shares during the period. Segment Wealth Management LLC increased its position in Caterpillar by 19.5% during the third quarter. Segment Wealth Management LLC now owns 12,284 shares of the industrial products company’s stock worth $1,532,000 after buying an additional 2,003 shares during the period. First Quadrant L P CA acquired a new position in Caterpillar during the third quarter worth approximately $591,000. Schulhoff & Co. Inc. acquired a new position in Caterpillar during the third quarter worth approximately $218,000. Finally, Aperio Group LLC increased its position in Caterpillar by 5.9% during the third quarter. Aperio Group LLC now owns 290,741 shares of the industrial products company’s stock worth $36,258,000 after buying an additional 16,281 shares during the period. 69.19% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on CAT shares. BMO Capital Markets reaffirmed a “buy” rating and set a $130.00 price target on shares of Caterpillar in a research report on Friday, September 8th. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price target on the stock. in a research report on Monday, September 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Caterpillar in a research report on Tuesday, August 29th. Credit Suisse Group reaffirmed a “hold” rating and set a $133.00 price target on shares of Caterpillar in a research report on Friday, September 22nd. Finally, Goldman Sachs Group, Inc. (The) lifted their price target on Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company. Caterpillar has a consensus rating of “Hold” and a consensus price target of $133.92.
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Caterpillar, Inc. (NYSE CAT) opened at $137.60 on Wednesday. The stock has a market capitalization of $81,452.37, a price-to-earnings ratio of 24.67, a P/E/G ratio of 2.07 and a beta of 1.29. Caterpillar, Inc. has a 1-year low of $90.34 and a 1-year high of $140.44. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.68. The firm had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. Caterpillar’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. analysts predict that Caterpillar, Inc. will post 6.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were issued a dividend of $0.78 per share. The ex-dividend date was Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.27%. Caterpillar’s dividend payout ratio is presently 216.67%.
In other news, Director Daniel M. Dickinson sold 3,813 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the transaction, the director now directly owns 6,554 shares of the company’s stock, valued at $898,487.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the transaction, the insider now directly owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,932 shares of company stock valued at $4,069,782. 0.14% of the stock is currently owned by insiders.
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