Level Four Advisory Services LLC Reduces Stake in Caterpillar, Inc. (CAT)
Level Four Advisory Services LLC lowered its position in Caterpillar, Inc. (NYSE:CAT) by 7.3% during the first quarter, Holdings Channel reports. The fund owned 10,028 shares of the industrial products company’s stock after selling 795 shares during the period. Level Four Advisory Services LLC’s holdings in Caterpillar were worth $945,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. FMR LLC boosted its position in shares of Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares during the last quarter. Morgan Stanley boosted its position in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares during the last quarter. Institutional investors own 70.53% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE CAT) traded up 0.05% on Friday, reaching $113.21. 758,258 shares of the company’s stock were exchanged. Caterpillar, Inc. has a 12 month low of $79.93 and a 12 month high of $115.46. The firm’s 50 day moving average price is $109.51 and its 200-day moving average price is $101.06. The company has a market capitalization of $66.90 billion, a P/E ratio of 632.46 and a beta of 1.25.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar, Inc. will post $5.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be issued a $0.78 dividend. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is currently 2,080.00%.
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A number of equities analysts have issued reports on CAT shares. BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Tuesday, June 6th. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 price target for the company in a report on Thursday, April 27th. Finally, Credit Suisse Group set a $123.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Caterpillar currently has an average rating of “Hold” and an average price target of $107.15.
In related news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock worth $22,979,332 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.
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