New York State Common Retirement Fund Has $186.46 Million Position in Caterpillar, Inc. (CAT)
New York State Common Retirement Fund decreased its holdings in Caterpillar, Inc. (NYSE:CAT) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,495,130 shares of the industrial products company’s stock after selling 26,850 shares during the quarter. New York State Common Retirement Fund owned 0.25% of Caterpillar worth $186,458,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in shares of Caterpillar by 10.6% during the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 128 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in shares of Caterpillar during the second quarter valued at approximately $104,000. Motco raised its holdings in shares of Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 718 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Caterpillar during the first quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC raised its holdings in shares of Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 900 shares during the last quarter. 68.61% of the stock is owned by institutional investors.
Caterpillar, Inc. (NYSE:CAT) opened at $141.50 on Tuesday. The firm has a market capitalization of $84,195.02, a P/E ratio of 25.50, a P/E/G ratio of 2.14 and a beta of 1.29. Caterpillar, Inc. has a 52-week low of $90.34 and a 52-week high of $145.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.68. The company had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. analysts anticipate that Caterpillar, Inc. will post 6.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.20%. Caterpillar’s payout ratio is 216.67%.
In related news, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was 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 directly owns 6,554 shares in the company, valued at $898,487.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bradley M. Halverson sold 17,210 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the transaction, the chief financial officer now owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The disclosure for this sale can be found here. Insiders sold 52,989 shares of company stock valued at $7,235,850 over the last quarter. 0.14% of the stock is currently owned by company insiders.
CAT has been the subject of a number of research analyst reports. BMO Capital Markets reissued a “buy” rating and set a $130.00 target price on shares of Caterpillar in a report on Friday, September 8th. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price target for the company. in a research report on Monday, September 11th. Jefferies Group restated a “hold” rating and issued a $100.00 price target on shares of Caterpillar in a research report on Tuesday, August 29th. Credit Suisse Group restated a “hold” rating and issued a $133.00 price target on shares of Caterpillar in a research report on Friday, September 22nd. Finally, Goldman Sachs Group upped their price target on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $133.92.
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