Oppenheimer & Co. Inc. Has $5.96 Million Stake in Caterpillar, Inc. (CAT)
Oppenheimer & Co. Inc. boosted its stake in Caterpillar, Inc. (NYSE:CAT) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 64,263 shares of the industrial products company’s stock after buying an additional 1,777 shares during the period. Oppenheimer & Co. Inc.’s holdings in Caterpillar were worth $5,961,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gulf International Bank UK Ltd increased its position in shares of Caterpillar by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 181,217 shares of the industrial products company’s stock valued at $16,809,000 after buying an additional 3,100 shares in the last quarter. Koshinski Asset Management Inc. increased its position in shares of Caterpillar by 12.5% in the first quarter. Koshinski Asset Management Inc. now owns 11,148 shares of the industrial products company’s stock valued at $1,034,000 after buying an additional 1,240 shares in the last quarter. Mutual of Omaha Bank Wealth Management increased its position in shares of Caterpillar by 9.2% in the first quarter. Mutual of Omaha Bank Wealth Management now owns 4,725 shares of the industrial products company’s stock valued at $439,000 after buying an additional 400 shares in the last quarter. Country Club Trust Company n.a. purchased a new position in shares of Caterpillar during the first quarter valued at about $761,000. Finally, National Pension Service increased its position in shares of Caterpillar by 4.1% in the first quarter. National Pension Service now owns 434,551 shares of the industrial products company’s stock valued at $40,509,000 after buying an additional 16,957 shares in the last quarter. Hedge funds and other institutional investors own 70.53% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE:CAT) traded down 0.52% during mid-day trading on Thursday, hitting $113.74. 772,466 shares of the stock were exchanged. The stock’s 50-day moving average price is $109.24 and its 200-day moving average price is $100.97. The company has a market cap of $67.22 billion, a P/E ratio of 635.42 and a beta of 1.25. Caterpillar, Inc. has a 52-week low of $79.93 and a 52-week high of $115.46.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the business earned $1.09 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Tuesday, July 18th. Caterpillar’s payout ratio is 2,080.00%.
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CAT has been the topic of several analyst reports. Robert W. Baird set a $102.00 target price on shares of Caterpillar and gave the stock a “hold” rating in a research note on Wednesday, April 12th. Vetr downgraded shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price objective on the stock. in a research report on Tuesday, April 25th. Stifel Nicolaus lowered their price objective on shares of Caterpillar from $111.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, April 26th. Royal Bank Of Canada restated a “hold” rating and set a $101.00 price objective on shares of Caterpillar in a research report on Wednesday, April 26th. Finally, Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 price objective on the stock in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $106.56.
In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was 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 directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. 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 over the last quarter. Company insiders own 0.15% of the company’s stock.
Caterpillar Company Profile
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