Day & Ennis LLC Raises Position in Caterpillar, Inc. (CAT)
Day & Ennis LLC raised its position in shares of Caterpillar, Inc. (NYSE:CAT) by 0.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,204 shares of the industrial products company’s stock after buying an additional 2 shares during the period. Day & Ennis LLC’s holdings in Caterpillar were worth $204,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Howe & Rusling Inc. boosted its stake in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares during the period. First Personal Financial Services boosted its stake in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after buying an additional 750 shares during the period. Harfst & Associates Inc. purchased a new stake in shares of Caterpillar during the first quarter worth about $111,000. Financial Architects Inc boosted its stake in shares of Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after buying an additional 65 shares during the period. Finally, Ledyard National Bank boosted its stake in shares of Caterpillar by 145.7% in the first quarter. Ledyard National Bank now owns 1,425 shares of the industrial products company’s stock worth $132,000 after buying an additional 845 shares during the period. 70.53% of the stock is owned by institutional investors and hedge funds.
Caterpillar, Inc. (NYSE:CAT) traded down 0.27% during midday trading on Friday, hitting $112.85. 2,130,558 shares of the stock traded hands. The stock has a 50-day moving average of $109.77 and a 200 day moving average of $101.19. Caterpillar, Inc. has a 52-week low of $79.93 and a 52-week high of $115.46. The firm has a market cap of $66.69 billion, a PE ratio of 630.45 and a beta of 1.25.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. Equities analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be given a dividend of $0.78 per share. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 annualized dividend and a dividend yield of 2.76%. Caterpillar’s payout ratio is presently 2,080.00%.
A number of analysts have recently issued reports on the stock. UBS AG reissued a “neutral” rating and issued a $102.00 price objective (up from $98.00) on shares of Caterpillar in a research note on Friday, April 28th. Atlantic Securities raised shares of Caterpillar from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $85.00 to $115.00 in a research note on Thursday, August 3rd. Argus reissued a “buy” rating and issued a $113.10 price objective (down from $130.00) on shares of Caterpillar in a research note on Wednesday, August 2nd. Vetr raised shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective for the company in a research note on Thursday. Finally, Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Caterpillar presently has a consensus rating of “Hold” and an average target price of $107.15.
In other news, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.
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