Caterpillar Inc. (NYSE:CAT) Position Raised by Kayne Anderson Rudnick Investment Management LLC
Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 19.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,800 shares of the industrial products company’s stock after purchasing an additional 25,588 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Caterpillar were worth $21,245,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Loeb Partners Corp bought a new position in shares of Caterpillar in the 4th quarter valued at about $25,000. Clarfeld Financial Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $26,000. Paragon Capital Management LLC bought a new position in shares of Caterpillar in the 1st quarter valued at about $40,000. PRW Wealth Management LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $43,000. Finally, Legacy Advisors LLC bought a new position in shares of Caterpillar in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 65.66% of the company’s stock.
CAT stock traded down $0.79 during midday trading on Wednesday, reaching $126.49. 775,280 shares of the company were exchanged, compared to its average volume of 4,475,654. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.43 and a quick ratio of 0.98. Caterpillar Inc. has a one year low of $112.06 and a one year high of $159.37. The stock has a market cap of $72.39 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.26%. This is a boost from Caterpillar’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, July 19th. Caterpillar’s payout ratio is 30.66%.
Several brokerages have commented on CAT. ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a report on Tuesday, April 2nd. OTR Global downgraded shares of Caterpillar to a “positive” rating in a report on Friday, February 15th. Macquarie set a $115.00 price objective on shares of Caterpillar and gave the company a “sell” rating in a report on Tuesday. Finally, UBS Group set a $125.00 target price on shares of Caterpillar and gave the company a “sell” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. Caterpillar has an average rating of “Hold” and a consensus target price of $145.39.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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