Meyer Handelman Co. Trims Stake in Caterpillar, Inc. (CAT)
Meyer Handelman Co. cut its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 234,116 shares of the industrial products company’s stock after selling 12,500 shares during the quarter. Caterpillar makes up approximately 1.3% of Meyer Handelman Co.’s holdings, making the stock its 21st biggest holding. Meyer Handelman Co.’s holdings in Caterpillar were worth $29,196,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after acquiring an additional 2,377,623 shares during the period. FMR LLC increased its holdings in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the period. Morgan Stanley increased its holdings in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after buying an additional 1,365,856 shares during the period. Primecap Management Co. CA increased its holdings in Caterpillar by 16.9% during the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after buying an additional 1,047,922 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Caterpillar by 8.1% during the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after buying an additional 419,191 shares during the period. 69.19% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on CAT shares. TheStreet raised shares of Caterpillar from a “c+” rating to a “b” rating in a report on Tuesday, July 25th. Credit Suisse Group set a $123.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Tuesday, July 25th. Bank of America Corporation reissued a “buy” rating and set a $135.00 price objective (up from $120.00) on shares of Caterpillar in a report on Thursday, July 27th. Tigress Financial raised shares of Caterpillar from a “neutral” rating to a “buy” rating in a report on Monday, July 31st. Finally, Argus reissued a “buy” rating and set a $113.10 price objective (down from $130.00) on shares of Caterpillar in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $133.92.
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 completion of the transaction, the director now owns 6,554 shares of the company’s stock, valued at $898,487.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 directly owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Caterpillar, Inc. (CAT) opened at $136.91 on Tuesday. The stock has a market cap of $81,450.00, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.06 and a beta of 1.29. Caterpillar, Inc. has a 1 year low of $90.34 and a 1 year high of $140.44. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The company had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. equities analysts anticipate that Caterpillar, Inc. will post 6.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.28%. Caterpillar’s dividend payout ratio is presently 216.67%.
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