Moors & Cabot Inc. Purchases 1,201 Shares of Caterpillar Inc. (CAT)
Moors & Cabot Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 7.0% during the first quarter, Holdings Channel reports. The institutional investor owned 18,398 shares of the industrial products company’s stock after buying an additional 1,201 shares during the quarter. Moors & Cabot Inc.’s holdings in Caterpillar were worth $2,501,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CAT. Vanguard Group Inc boosted its position in shares of Caterpillar by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 49,811,616 shares of the industrial products company’s stock worth $7,595,773,000 after purchasing an additional 534,451 shares during the last quarter. BlackRock Inc. boosted its position in shares of Caterpillar by 1.5% in the 4th quarter. BlackRock Inc. now owns 35,985,874 shares of the industrial products company’s stock worth $4,572,725,000 after purchasing an additional 529,926 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Caterpillar by 6,835.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 8,923,946 shares during the last quarter. Northern Trust Corp boosted its position in shares of Caterpillar by 1.9% in the 4th quarter. Northern Trust Corp now owns 7,379,026 shares of the industrial products company’s stock worth $937,652,000 after purchasing an additional 134,479 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Caterpillar by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock worth $890,658,000 after purchasing an additional 321,277 shares during the last quarter. Hedge funds and other institutional investors own 66.67% of the company’s stock.
CAT has been the topic of several recent research reports. Bank of America set a $152.00 price target on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, January 29th. UBS Group lowered Caterpillar from a “buy” rating to a “sell” rating and reduced their price target for the stock from $154.00 to $125.00 in a research report on Tuesday, February 26th. Zacks Investment Research lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. Credit Suisse Group restated a “buy” rating and issued a $173.00 price target on shares of Caterpillar in a research report on Thursday, February 14th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $188.00 price target on shares of Caterpillar in a research report on Monday, January 28th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $145.39.
Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.10. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.36 billion. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. Analysts predict that Caterpillar Inc. will post 12.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a $1.03 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.12 annualized dividend and a dividend yield of 3.35%. Caterpillar’s dividend payout ratio (DPR) is currently 30.66%.
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Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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