Atlas Brown Inc. lessened its stake in Caterpillar Inc. (NYSE:CAT) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,173 shares of the industrial products company’s stock after selling 76 shares during the quarter. Atlas Brown Inc.’s holdings in Caterpillar were worth $1,377,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of CAT. Amundi acquired a new position in Caterpillar during the second quarter worth $563,018,000. BlackRock Inc. boosted its holdings in Caterpillar by 5.9% in the second quarter. BlackRock Inc. now owns 36,888,853 shares of the industrial products company’s stock valued at $8,028,123,000 after purchasing an additional 2,064,453 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Caterpillar by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 47,434,967 shares of the industrial products company’s stock worth $10,323,272,000 after buying an additional 1,165,504 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $226,940,000. Finally, Morgan Stanley increased its position in shares of Caterpillar by 16.6% during the 2nd quarter. Morgan Stanley now owns 5,070,449 shares of the industrial products company’s stock valued at $1,103,482,000 after purchasing an additional 721,439 shares during the period. Hedge funds and other institutional investors own 67.66% of the company’s stock.
In other news, insider Joseph E. Creed sold 5,038 shares of the company’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $204.09, for a total transaction of $1,028,205.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, October 28th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.40. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $12.46 billion. Caterpillar had a net margin of 10.64% and a return on equity of 34.41%. Caterpillar’s revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business earned $1.34 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 10.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Investors of record on Monday, October 25th were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Friday, October 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 47.49%.
CAT has been the topic of several recent research reports. Morgan Stanley raised their target price on Caterpillar from $165.00 to $166.00 and gave the company an “underweight” rating in a report on Friday, October 29th. UBS Group upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $232.00 to $235.00 in a research report on Friday, October 29th. Citigroup upped their target price on shares of Caterpillar from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, October 12th. Cowen initiated coverage on shares of Caterpillar in a research report on Thursday, October 14th. They issued an “outperform” rating and a $241.00 price objective for the company. Finally, Credit Suisse Group upped their target price on shares of Caterpillar from $239.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, October 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $234.05.
Caterpillar Company Profile
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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