Connor Clark & Lunn Investment Management Ltd. Buys New Position in Caterpillar Inc. (NYSE:CAT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Caterpillar Inc. (NYSE:CATGet Rating) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 33,786 shares of the industrial products company’s stock, valued at approximately $8,094,000.

Other institutional investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC raised its holdings in Caterpillar by 286.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 86 shares in the last quarter. Cowa LLC purchased a new stake in shares of Caterpillar in the third quarter worth $33,000. Moisand Fitzgerald Tamayo LLC grew its stake in shares of Caterpillar by 44.7% in the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 136 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 42 shares during the last quarter. Richard W. Paul & Associates LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth $36,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Caterpillar in the fourth quarter worth $38,000. Institutional investors own 68.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent research reports. StockNews.com initiated coverage on Caterpillar in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. William Blair reissued a “market perform” rating on shares of Caterpillar in a research note on Tuesday, January 31st. Stifel Nicolaus increased their price objective on Caterpillar from $273.00 to $275.00 in a research report on Monday, May 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on Caterpillar from $228.00 to $225.00 and set a “hold” rating on the stock in a research report on Wednesday, April 12th. Finally, Evercore ISI dropped their price objective on Caterpillar from $288.00 to $263.00 in a research report on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average price target of $238.94.

Caterpillar Stock Up 0.1 %

NYSE CAT opened at $209.98 on Friday. The stock’s 50-day moving average price is $217.25 and its 200-day moving average price is $232.93. The company has a market capitalization of $108.22 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09. Caterpillar Inc. has a 52 week low of $160.60 and a 52 week high of $266.04. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 1.37.

Caterpillar (NYSE:CATGet Rating) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $4.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $1.12. Caterpillar had a return on equity of 50.98% and a net margin of 11.52%. The business had revenue of $15.86 billion for the quarter, compared to the consensus estimate of $15.27 billion. During the same quarter in the previous year, the company posted $2.88 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 17.64 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Monday, April 24th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, April 21st. Caterpillar’s dividend payout ratio (DPR) is 35.48%.

Caterpillar Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CATGet Rating).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.