Chicago Equity Partners LLC Sells 72,050 Shares of Caterpillar Inc. (CAT)
Chicago Equity Partners LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 38.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,290 shares of the industrial products company’s stock after selling 72,050 shares during the period. Caterpillar accounts for 0.6% of Chicago Equity Partners LLC’s investment portfolio, making the stock its 28th largest position. Chicago Equity Partners LLC’s holdings in Caterpillar were worth $14,904,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bristlecone Advisors LLC bought a new position in Caterpillar during the third quarter worth $912,000. GSB Wealth Management LLC bought a new position in Caterpillar during the third quarter worth $305,000. IFM Investors Pty Ltd boosted its stake in Caterpillar by 16.7% during the third quarter. IFM Investors Pty Ltd now owns 31,594 shares of the industrial products company’s stock worth $4,818,000 after acquiring an additional 4,527 shares in the last quarter. Culbertson A N & Co. Inc. boosted its stake in Caterpillar by 2.5% during the third quarter. Culbertson A N & Co. Inc. now owns 39,567 shares of the industrial products company’s stock worth $6,034,000 after acquiring an additional 950 shares in the last quarter. Finally, St. Johns Investment Management Company LLC bought a new position in Caterpillar during the third quarter worth $106,000. 68.90% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on CAT. OTR Global lowered shares of Caterpillar to a “positive” rating in a research note on Friday. Credit Suisse Group reissued a “buy” rating and set a $173.00 target price on shares of Caterpillar in a research note on Thursday, February 14th. BMO Capital Markets cut their target price on shares of Caterpillar to $160.00 and set an “outperform” rating on the stock in a research note on Monday, February 4th. UBS Group set a $154.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Finally, Robert W. Baird set a $161.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Caterpillar has a consensus rating of “Buy” and a consensus target price of $151.50.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, January 28th. The industrial products company reported $2.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.98 by ($0.43). The business had revenue of $14.34 billion for the quarter, compared to analyst estimates of $14.36 billion. Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS. On average, equities research analysts anticipate that Caterpillar Inc. will post 12.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 20th. Stockholders of record on Tuesday, January 22nd will be issued a $0.86 dividend. The ex-dividend date of this dividend is Friday, January 18th. This represents a $3.44 annualized dividend and a dividend yield of 2.53%. Caterpillar’s dividend payout ratio is currently 30.66%.
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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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