Creative Planning Has $16.49 Million Stake in Caterpillar Inc. (CAT)
Creative Planning lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 104,670 shares of the industrial products company’s stock after purchasing an additional 5,750 shares during the period. Creative Planning’s holdings in Caterpillar were worth $16,494,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Motco boosted its holdings in Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares in the last quarter. Massey Quick Simon & CO. LLC boosted its holdings in Caterpillar by 4,240.7% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 1,145 shares in the last quarter. Blue Chip Partners Inc. acquired a new position in Caterpillar in the second quarter valued at approximately $136,000. Finally, First American Trust FSB acquired a new position in Caterpillar in the fourth quarter valued at approximately $204,000. 68.55% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. Vetr raised Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price target for the company in a report on Monday. Bank of America reaffirmed a “buy” rating and issued a $189.00 price target (up from $158.00) on shares of Caterpillar in a report on Friday, January 12th. JPMorgan Chase & Co. raised Caterpillar from a “neutral” rating to an “overweight” rating and upped their price target for the company from $161.96 to $200.00 in a report on Monday, January 8th. UBS Group set a $180.00 price target on Caterpillar and gave the company a “buy” rating in a report on Friday, January 5th. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $195.00 price target (up from $165.00) on shares of Caterpillar in a report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company. Caterpillar has a consensus rating of “Hold” and a consensus target price of $148.24.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. research analysts forecast that Caterpillar Inc. will post 6.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.
In other Caterpillar news, insider Thomas A. Pellette sold 24,547 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the transaction, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. Insiders have sold 52,989 shares of company stock valued at $7,235,850 in the last 90 days. Company insiders own 0.14% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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