Caterpillar Inc. (CAT) Shares Sold by Mackay Shields LLC
Mackay Shields LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 23.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,244 shares of the industrial products company’s stock after selling 47,694 shares during the period. Mackay Shields LLC’s holdings in Caterpillar were worth $21,062,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CAT. Lee Financial Co increased its stake in Caterpillar by 365.1% during the first quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 639 shares during the last quarter. Ballew Advisors Inc bought a new stake in Caterpillar during the first quarter valued at $121,000. Stelac Advisory Services LLC bought a new stake in Caterpillar during the first quarter valued at $129,000. Front Row Advisors LLC increased its stake in Caterpillar by 125.0% during the first quarter. Front Row Advisors LLC now owns 900 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 500 shares during the last quarter. Finally, Vantage Investment Advisors LLC increased its stake in Caterpillar by 126.5% during the first quarter. Vantage Investment Advisors LLC now owns 2,414 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 1,348 shares during the last quarter. Institutional investors and hedge funds own 67.17% of the company’s stock.
Several analysts have weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $174.00 target price (down previously from $176.00) on shares of Caterpillar in a research note on Monday, May 14th. UBS Group boosted their target price on shares of Caterpillar from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, June 14th. ValuEngine lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Wednesday, April 18th. Finally, Citigroup upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Monday, April 23rd. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $171.85.
Caterpillar stock opened at $135.92 on Friday. The stock has a market cap of $82.33 billion, a PE ratio of 13.99, a PEG ratio of 0.91 and a beta of 1.38. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97. Caterpillar Inc. has a one year low of $112.69 and a one year high of $173.24.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.73 by $0.24. The business had revenue of $14.01 billion during the quarter, compared to analyst estimates of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 earnings per share. equities research analysts predict that Caterpillar Inc. will post 11.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, July 20th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.53%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.78. Caterpillar’s dividend payout ratio is currently 50.00%.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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