Sowell Financial Services LLC Trims Position in Caterpillar, Inc. (CAT)
Sowell Financial Services LLC cut its position in shares of Caterpillar, Inc. (NYSE:CAT) by 31.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,093 shares of the industrial products company’s stock after selling 6,995 shares during the quarter. Sowell Financial Services LLC’s holdings in Caterpillar were worth $2,057,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. ClariVest Asset Management LLC purchased a new position in Caterpillar during the third quarter worth $246,000. Commonwealth Equity Services Inc increased its position in Caterpillar by 2.7% during the third quarter. Commonwealth Equity Services Inc now owns 307,399 shares of the industrial products company’s stock worth $38,335,000 after buying an additional 7,975 shares in the last quarter. Ashfield Capital Partners LLC increased its position in Caterpillar by 222.7% during the third quarter. Ashfield Capital Partners LLC now owns 52,696 shares of the industrial products company’s stock worth $6,572,000 after buying an additional 36,364 shares in the last quarter. Advisors Management Group Inc. ADV purchased a new position in Caterpillar during the third quarter worth $231,000. Finally, Caldwell & Orkin Inc. increased its position in Caterpillar by 177.9% during the third quarter. Caldwell & Orkin Inc. now owns 20,840 shares of the industrial products company’s stock worth $2,599,000 after buying an additional 13,340 shares in the last quarter. 68.61% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. ValuEngine downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Wells Fargo & Company set a $150.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. UBS set a $155.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Tuesday, December 5th. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price objective for the company. in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and an average target price of $136.41.
In other Caterpillar news, insider Bradley M. Halverson sold 2,600 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $137.67, for a total transaction of $357,942.00. Following the completion of the sale, the insider now owns 5,214 shares of the company’s stock, valued at $717,811.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas A. Pellette sold 24,547 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by company insiders.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at $143.86 on Friday. Caterpillar, Inc. has a 1 year low of $90.34 and a 1 year high of $145.19. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The stock has a market capitalization of $85,587.21, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.17 and a beta of 1.29.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. equities research analysts forecast that Caterpillar, Inc. will post 6.41 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.
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Caterpillar Company Profile
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