Caterpillar, Inc. (CAT) Stake Cut by Quantitative Systematic Strategies LLC
Quantitative Systematic Strategies LLC decreased its stake in Caterpillar, Inc. (NYSE:CAT) by 11.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,004 shares of the industrial products company’s stock after selling 1,002 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Caterpillar were worth $849,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Howe & Rusling Inc. boosted its stake in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares during the last quarter. Reilly Financial Advisors LLC boosted its stake in Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after buying an additional 535 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Caterpillar during the first quarter valued at about $107,000. First Personal Financial Services boosted its stake in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the last quarter. Finally, Harfst & Associates Inc. purchased a new stake in Caterpillar during the first quarter valued at about $111,000. Hedge funds and other institutional investors own 70.27% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE:CAT) traded up 0.79% on Monday, reaching $113.74. 909,453 shares of the company were exchanged. The company has a 50-day moving average price of $109.77 and a 200 day moving average price of $101.19. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $115.46. The stock has a market capitalization of $67.22 billion, a PE ratio of 635.42 and a beta of 1.25.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. Caterpillar’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, July 18th. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is currently 2,080.00%.
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Several equities research analysts recently issued reports on the stock. UBS AG restated a “neutral” rating and set a $102.00 price objective (up from $98.00) on shares of Caterpillar in a research report on Friday, April 28th. Atlantic Securities upgraded shares of Caterpillar from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $85.00 to $115.00 in a research report on Thursday, August 3rd. Vetr raised shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 target price for the company in a research note on Thursday. Argus reaffirmed a “buy” rating and set a $113.10 target price (down previously from $130.00) on shares of Caterpillar in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $120.00 target price (up previously from $100.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $107.15.
In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by company insiders.
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