State Street Corp Has $4.86 Billion Position in Caterpillar, Inc. (NYSE:CAT)
State Street Corp cut its position in shares of Caterpillar, Inc. (NYSE:CAT) by 2.2% during the first quarter, Holdings Channel reports. The firm owned 52,445,715 shares of the industrial products company’s stock after selling 1,153,642 shares during the period. State Street Corp owned 0.09% of Caterpillar worth $4,864,872,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Country Club Trust Company n.a. purchased a new stake in Caterpillar during the first quarter worth approximately $761,000. National Pension Service increased its stake in Caterpillar by 4.1% in the first quarter. National Pension Service now owns 434,551 shares of the industrial products company’s stock worth $40,509,000 after buying an additional 16,957 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in Caterpillar by 39.9% in the first quarter. Carroll Financial Associates Inc. now owns 4,029 shares of the industrial products company’s stock worth $373,000 after buying an additional 1,150 shares during the last quarter. LVM Capital Management Ltd. MI increased its stake in Caterpillar by 6.4% in the first quarter. LVM Capital Management Ltd. MI now owns 2,500 shares of the industrial products company’s stock worth $232,000 after buying an additional 150 shares during the last quarter. Finally, Stillwater Investment Management LLC increased its stake in Caterpillar by 0.8% in the first quarter. Stillwater Investment Management LLC now owns 17,040 shares of the industrial products company’s stock worth $1,581,000 after buying an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 70.53% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE:CAT) traded up 0.05% during midday trading on Friday, reaching $113.21. The company’s stock had a trading volume of 696,184 shares. The stock has a market capitalization of $66.90 billion, a PE ratio of 632.46 and a beta of 1.25. The stock has a 50-day moving average price of $109.51 and a 200 day moving average price of $101.06. Caterpillar, Inc. has a 52 week low of $79.93 and a 52 week high of $115.46.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that Caterpillar, Inc. will post $5.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be issued a dividend of $0.78 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, July 18th. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
A number of analysts have commented on CAT shares. BidaskClub upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Tuesday, June 6th. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Raymond James Financial, Inc. upgraded Caterpillar to a “buy” rating and set a $55.00 target price on the stock in a research report on Thursday, April 27th. Finally, Credit Suisse Group set a $123.00 target price on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Caterpillar presently has an average rating of “Hold” and an average target price of $107.15.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.
Caterpillar Company Profile
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar, Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.