Logan Capital Management Inc. Sells 180 Shares of Caterpillar, Inc. (CAT)
Logan Capital Management Inc. decreased its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,140 shares of the industrial products company’s stock after selling 180 shares during the period. Logan Capital Management Inc.’s holdings in Caterpillar were worth $1,520,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CAT. Baker Ellis Asset Management LLC acquired a new stake in shares of Caterpillar during the second quarter worth about $104,000. Motco boosted its stake in shares of Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after buying an additional 718 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $107,000. Acrospire Investment Management LLC raised its holdings in Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 900 shares in the last quarter. Finally, Harfst & Associates Inc. purchased a new position in Caterpillar during the first quarter worth about $111,000. Institutional investors and hedge funds own 69.34% of the company’s stock.
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Shares of Caterpillar, Inc. (NYSE CAT) opened at $136.63 on Friday. Caterpillar, Inc. has a 1 year low of $80.59 and a 1 year high of $140.44. The stock has a market cap of $81,285.84, a P/E ratio of 24.62, a P/E/G ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business earned $0.85 earnings per share. Caterpillar’s revenue was up 24.6% compared to the same quarter last year. analysts forecast that Caterpillar, Inc. will post 6.4 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.28%. Caterpillar’s dividend payout ratio (DPR) is currently 216.67%.
Several research firms recently issued reports on CAT. Atlantic Securities raised shares of Caterpillar from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $85.00 to $115.00 in a report on Thursday, August 3rd. UBS AG set a $155.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 25th. Royal Bank Of Canada increased their price target on shares of Caterpillar from $120.00 to $143.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a report on Monday, October 30th. Finally, Vetr raised shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price target for the company in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $133.70.
In other Caterpillar news, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction on Monday, October 30th. The shares were sold at an average price of $137.09, for a total value of $522,724.17. Following the transaction, the director now owns 6,554 shares in the company, valued at approximately $898,487.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the transaction, the insider now owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
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