Monetary Management Group Inc. Acquires 1,225 Shares of Caterpillar, Inc. (CAT)
Monetary Management Group Inc. grew its holdings in Caterpillar, Inc. (NYSE:CAT) by 27.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,670 shares of the industrial products company’s stock after acquiring an additional 1,225 shares during the period. Monetary Management Group Inc.’s holdings in Caterpillar were worth $609,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Beach Investment Management LLC. purchased a new stake in shares of Caterpillar in the 2nd quarter valued at $231,000. NGAM Advisors L.P. boosted its holdings in shares of 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 acquiring an additional 2,286 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of 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 acquiring an additional 164,989 shares during the last quarter. Bancorpsouth Inc. boosted its holdings in shares of 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 acquiring an additional 69 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Caterpillar in the 1st quarter valued at $46,917,000. 69.41% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar, Inc. (NYSE:CAT) opened at $137.71 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market cap of $81,285.79, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. Caterpillar, Inc. has a 12 month low of $80.59 and a 12 month high of $140.44.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. equities analysts forecast that Caterpillar, Inc. will post 6.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, October 20th. Caterpillar’s payout ratio is 216.67%.
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CAT has been the topic of several recent research reports. TheStreet raised shares of Caterpillar from a “c+” rating to a “b” rating in a report on Tuesday, July 25th. Bank of America Corporation reissued a “buy” rating and set a $135.00 price target (up from $120.00) on shares of Caterpillar in a report on Thursday, July 27th. 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. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Friday, July 14th. Finally, Tigress Financial raised shares of Caterpillar from a “neutral” rating to a “buy” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $133.76.
In other news, Director Daniel M. Dickinson sold 3,813 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
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