Lido Advisors LLC Has $668,000 Holdings in Caterpillar Inc. (CAT)
Lido Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 14.0% in the third quarter, HoldingsChannel reports. The firm owned 4,381 shares of the industrial products company’s stock after acquiring an additional 538 shares during the quarter. Lido Advisors LLC’s holdings in Caterpillar were worth $668,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Acropolis Investment Management LLC bought a new position in shares of Caterpillar during the 3rd quarter worth approximately $100,000. Sound Income Strategies LLC boosted its stake in shares of Caterpillar by 181.8% during the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 429 shares during the period. St. Johns Investment Management Company LLC bought a new position in shares of Caterpillar during the 3rd quarter worth approximately $106,000. Avestar Capital LLC lifted its holdings in Caterpillar by 92.3% during the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 477 shares during the last quarter. Finally, Providence Capital Advisors LLC acquired a new stake in Caterpillar during the 3rd quarter worth approximately $118,000. Hedge funds and other institutional investors own 66.86% of the company’s stock.
In related news, insider Lange Bob De acquired 1,080 shares of the company’s stock in a transaction on Friday, October 26th. The stock was purchased at an average cost of $115.58 per share, with a total value of $124,826.40. Following the acquisition, the insider now directly owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the transaction, the insider now directly owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.03. The firm had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd were issued a $0.86 dividend. The ex-dividend date was Friday, October 19th. This represents a $3.44 annualized dividend and a yield of 2.78%. Caterpillar’s dividend payout ratio is presently 50.00%.
CAT has been the subject of several research reports. Bank of America raised Caterpillar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $163.00 in a report on Monday, December 3rd. Cleveland Research reissued a “hold” rating on shares of Caterpillar in a report on Friday, October 19th. Citigroup raised Caterpillar to an “outperform” rating in a report on Friday, September 21st. Morgan Stanley set a $169.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, Deutsche Bank set a $177.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Caterpillar currently has an average rating of “Buy” and a consensus price target of $158.90.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
Further Reading: What is a Leveraged Buyout (LBO)?
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