Polaris Greystone Financial Group LLC Acquires Shares of 158,027 Caterpillar Inc. (CAT)
Polaris Greystone Financial Group LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 158,027 shares of the industrial products company’s stock, valued at approximately $22,163,000. Caterpillar accounts for about 1.7% of Polaris Greystone Financial Group LLC’s investment portfolio, making the stock its 29th largest holding.
Several other institutional investors also recently made changes to their positions in the stock. Beech Hill Advisors Inc. lifted its holdings in shares of Caterpillar by 45.2% in the first quarter. Beech Hill Advisors Inc. now owns 5,300 shares of the industrial products company’s stock valued at $718,000 after purchasing an additional 1,650 shares in the last quarter. UNIVEST FINANCIAL Corp raised its holdings in Caterpillar by 10.6% during the first quarter. UNIVEST FINANCIAL Corp now owns 3,515 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 337 shares in the last quarter. Aries Wealth Management raised its holdings in Caterpillar by 97.8% during the first quarter. Aries Wealth Management now owns 19,527 shares of the industrial products company’s stock worth $2,646,000 after acquiring an additional 9,657 shares in the last quarter. Bogart Wealth LLC raised its holdings in Caterpillar by 5.7% during the first quarter. Bogart Wealth LLC now owns 17,527 shares of the industrial products company’s stock worth $2,374,000 after acquiring an additional 946 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Caterpillar during the first quarter worth about $2,588,000. 67.06% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a report on Tuesday, April 2nd. Bank of America set a $152.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Thursday, April 4th. UBS Group set a $125.00 target price on Caterpillar and gave the stock a “sell” rating in a report on Thursday, April 4th. Morgan Stanley set a $165.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Wednesday. Finally, Deutsche Bank lowered Caterpillar from a “buy” rating to a “hold” rating and dropped their target price for the stock from $152.00 to $128.00 in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. Caterpillar currently has a consensus rating of “Hold” and an average price target of $147.77.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, January 28th. The industrial products company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.43). The business had revenue of $14.34 billion for the quarter, compared to analyst estimates of $14.36 billion. Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. Caterpillar’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. On average, analysts anticipate that Caterpillar Inc. will post 12.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.50%. Caterpillar’s dividend payout ratio (DPR) is presently 30.66%.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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