Northern Oak Wealth Management Inc. Reduces Stake in Caterpillar, Inc. (NYSE:CAT)
Northern Oak Wealth Management Inc. decreased its position in Caterpillar, Inc. (NYSE:CAT) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,124 shares of the industrial products company’s stock after selling 543 shares during the period. Northern Oak Wealth Management Inc.’s holdings in Caterpillar were worth $939,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Meridian Wealth Management LLC purchased a new position in Caterpillar during the first quarter worth approximately $648,000. Point72 Asset Management L.P. purchased a new position in Caterpillar during the first quarter worth approximately $46,917,000. FNY Partners Fund LP boosted its position in Caterpillar by 199.1% in the first quarter. FNY Partners Fund LP now owns 3,200 shares of the industrial products company’s stock worth $296,000 after buying an additional 2,130 shares during the period. Salem Investment Counselors Inc. boosted its position in Caterpillar by 520.7% in the first quarter. Salem Investment Counselors Inc. now owns 30,763 shares of the industrial products company’s stock worth $2,854,000 after buying an additional 25,807 shares during the period. Finally, Janus Capital Management LLC boosted its position in Caterpillar by 56.1% in the first quarter. Janus Capital Management LLC now owns 1,083,531 shares of the industrial products company’s stock worth $100,509,000 after buying an additional 389,303 shares during the period. Institutional investors own 70.27% of the company’s stock.
Shares of Caterpillar, Inc. (CAT) traded up 1.05% during trading on Monday, hitting $114.03. The company’s stock had a trading volume of 608,400 shares. Caterpillar, Inc. has a 52 week low of $79.93 and a 52 week high of $115.46. The firm’s 50 day moving average price is $109.77 and its 200-day moving average price is $101.19. The company has a market cap of $67.39 billion, a PE ratio of 637.04 and a beta of 1.25.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, analysts predict that Caterpillar, Inc. will post $5.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be given a $0.78 dividend. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 annualized dividend and a dividend yield of 2.76%. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is presently 2,080.00%.
A number of research analysts have commented on the company. Vetr upgraded Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price target on the stock in a research note on Thursday. Atlantic Securities upgraded Caterpillar from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $85.00 to $115.00 in a research note on Thursday, August 3rd. Argus restated a “buy” rating and set a $113.10 price target (down from $130.00) on shares of Caterpillar in a research note on Wednesday, August 2nd. Tigress Financial upgraded Caterpillar from a “neutral” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus restated a “hold” rating and set a $125.00 price target on shares of Caterpillar in a research note on Sunday, July 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Caterpillar presently has an average rating of “Hold” and a consensus target price of $107.15.
In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the sale, the insider now owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Insiders sold a total of 201,471 shares of company stock valued at $22,979,332 in the last three months. Insiders own 0.15% of the company’s stock.
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