Shell Asset Management Co. Has $16.62 Million Position in Caterpillar, Inc. (CAT)
Shell Asset Management Co. decreased its position in shares of Caterpillar, Inc. (NYSE:CAT) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,616 shares of the industrial products company’s stock after selling 10,270 shares during the period. Shell Asset Management Co.’s holdings in Caterpillar were worth $16,615,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Reilly Financial Advisors LLC increased its stake in shares of Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after buying an additional 535 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter valued at $107,000. First Personal Financial Services increased its stake in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Caterpillar during the first quarter valued at $111,000. Finally, Financial Architects Inc increased its stake in shares of Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after buying an additional 65 shares during the last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar, Inc. (NYSE:CAT) opened at 115.07 on Tuesday. The company has a market capitalization of $68.00 billion, a price-to-earnings ratio of 642.85 and a beta of 1.25. Caterpillar, Inc. has a 52-week low of $79.93 and a 52-week high of $116.64. The stock has a 50 day moving average price of $112.00 and a 200 day moving average price of $102.51.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts anticipate that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, August 19th. Investors of record on Thursday, July 20th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Tuesday, July 18th. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is currently 2,080.00%.
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Several brokerages recently weighed in on CAT. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 target price for the company. in a research note on Tuesday, August 22nd. Atlantic Securities upgraded Caterpillar from an “underweight” rating to a “neutral” rating and increased their target price for the company from $85.00 to $115.00 in a research note on Thursday, August 3rd. Argus reiterated a “buy” rating and issued a $113.10 price objective (down previously from $130.00) on shares of Caterpillar in a research report on Wednesday, August 2nd. BidaskClub upgraded Caterpillar from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $107.15.
In related 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 transaction of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock worth $22,979,332 in the last quarter. 0.15% of the stock is owned by corporate insiders.
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