Sanoor Capital Management LP Buys Shares of 112,200 Caterpillar Inc. (CAT)
Sanoor Capital Management LP bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 112,200 shares of the industrial products company’s stock, valued at approximately $17,109,000. Caterpillar accounts for approximately 5.4% of Sanoor Capital Management LP’s holdings, making the stock its 12th biggest position.
Several other institutional investors also recently bought and sold shares of CAT. Acropolis Investment Management LLC acquired a new stake in Caterpillar during the 3rd quarter valued at $100,000. Sound Income Strategies LLC increased its holdings in Caterpillar by 181.8% during the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 429 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new stake in Caterpillar during the 3rd quarter valued at $106,000. Avestar Capital LLC increased its holdings in Caterpillar by 92.3% during the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 477 shares in the last quarter. Finally, Providence Capital Advisors LLC acquired a new stake in Caterpillar during the 3rd quarter valued at $118,000. Institutional investors and hedge funds own 66.86% of the company’s stock.
Several equities research analysts have recently commented on the company. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 target price for the company in a research note on Thursday, September 20th. Citigroup raised Caterpillar to an “outperform” rating in a research note on Friday, September 21st. OTR Global cut Caterpillar to a “positive” rating in a research note on Friday, September 21st. Morgan Stanley set a $169.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Wednesday, October 24th. Finally, ValuEngine cut Caterpillar from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $158.90.
CAT stock traded down $1.89 during midday trading on Friday, hitting $126.48. 1,205,537 shares of the company’s stock were exchanged, compared to its average volume of 5,446,938. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. The firm has a market cap of $76.31 billion, a PE ratio of 18.38, a P/E/G ratio of 0.54 and a beta of 1.61. Caterpillar Inc. has a one year low of $112.06 and a one year high of $173.24.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.03. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 11.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Friday, October 19th. This represents a $3.44 annualized dividend and a yield of 2.72%. Caterpillar’s dividend payout ratio is presently 50.00%.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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