Psagot Investment House Ltd. raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 105.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150 shares of the industrial products company’s stock after purchasing an additional 77 shares during the period. Psagot Investment House Ltd.’s holdings in Caterpillar were worth $35,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brand Asset Management Group Inc. purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $26,000. Elmwood Wealth Management Inc. purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $26,000. IronBridge Private Wealth LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $30,000. Versant Capital Management Inc grew its holdings in shares of Caterpillar by 51.0% during the first quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock valued at $34,000 after buying an additional 49 shares during the last quarter. Finally, Wagner Wealth Management LLC purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $35,000. 68.11% of the stock is owned by institutional investors and hedge funds.
In other news, insider Joseph E. Creed sold 7,699 shares of Caterpillar stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $245.12, for a total transaction of $1,887,178.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Maclennan acquired 420 shares of Caterpillar stock in a transaction dated Wednesday, May 5th. The shares were bought at an average price of $237.86 per share, for a total transaction of $99,901.20. Following the transaction, the director now owns 890 shares of the company’s stock, valued at $211,695.40. The disclosure for this purchase can be found here. Company insiders own 0.18% of the company’s stock.
Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11 billion. During the same quarter last year, the business earned $1.60 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 9.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 20th. Stockholders of record on Tuesday, July 20th will be given a dividend of $1.11 per share. The ex-dividend date is Monday, July 19th. This represents a $4.44 annualized dividend and a dividend yield of 2.11%. This is a boost from Caterpillar’s previous quarterly dividend of $1.03. Caterpillar’s dividend payout ratio (DPR) is presently 67.68%.
A number of equities research analysts have recently commented on CAT shares. Morgan Stanley increased their price target on shares of Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a report on Friday, April 30th. Wolfe Research assumed coverage on shares of Caterpillar in a report on Monday, April 19th. They issued an “outperform” rating and a $265.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Caterpillar from $222.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Caterpillar from $273.00 to $258.00 and set a “buy” rating on the stock in a report on Wednesday, July 14th. Finally, Zacks Investment Research cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a report on Wednesday, June 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $227.55.
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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