Dearborn Partners LLC Sells 1,500 Shares of Caterpillar, Inc. (CAT)
Dearborn Partners LLC lessened its holdings in Caterpillar, Inc. (NYSE:CAT) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,431 shares of the industrial products company’s stock after selling 1,500 shares during the period. Dearborn Partners LLC’s holdings in Caterpillar were worth $5,849,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. NGAM Advisors L.P. boosted its position in Caterpillar by 2.9% in the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock valued at $8,742,000 after buying an additional 2,286 shares during the period. Bank of Nova Scotia boosted its position in Caterpillar by 527.0% in the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after buying an additional 164,989 shares during the period. Bancorpsouth Inc. boosted its position in Caterpillar by 1.2% in the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock valued at $537,000 after buying an additional 69 shares during the period. Point72 Asset Management L.P. purchased a new position in Caterpillar in the 1st quarter valued at approximately $46,917,000. Finally, State of Tennessee Treasury Department boosted its position in Caterpillar by 58.4% in the 1st quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock valued at $26,746,000 after buying an additional 106,270 shares during the period. 69.23% of the stock is owned by institutional investors.
Caterpillar, Inc. (NYSE CAT) opened at 130.71 on Monday. Caterpillar, Inc. has a 1-year low of $80.33 and a 1-year high of $131.41. The firm has a 50-day moving average of $122.86 and a 200-day moving average of $109.54. The firm has a market capitalization of $77.25 billion, a price-to-earnings ratio of 730.22 and a beta of 1.25.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts expect that Caterpillar, Inc. will post $5.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.39%. Caterpillar’s dividend payout ratio is presently 2,080.00%.
Several brokerages have commented on CAT. Wells Fargo & Company reissued an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. 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 report on Thursday, August 10th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Thursday, July 13th. Citigroup Inc. lifted their price objective on shares of Caterpillar from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a research report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $117.36.
In related news, insider Suzette M. Long sold 13,859 shares of Caterpillar stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the sale, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William A. Osborn sold 5,000 shares of Caterpillar 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. Over the last quarter, insiders sold 201,471 shares of company stock worth $22,979,332. 0.14% of the stock is currently owned by insiders.
Caterpillar Company Profile
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