Sumitomo Mitsui Trust Holdings Inc. Raises Position in Caterpillar Inc. (CAT)
Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,290,431 shares of the industrial products company’s stock after acquiring an additional 50,927 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.39% of Caterpillar worth $349,268,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC grew its position in shares of Caterpillar by 11.1% in the 2nd quarter. Fisher Asset Management LLC now owns 7,501 shares of the industrial products company’s stock valued at $1,018,000 after buying an additional 752 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Caterpillar by 2.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock valued at $8,446,000 after buying an additional 1,367 shares during the last quarter. FormulaFolio Investments LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $887,000. Manning & Napier Group LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $11,508,000. Finally, Atria Investments LLC boosted its position in shares of Caterpillar by 11.4% during the 2nd quarter. Atria Investments LLC now owns 10,182 shares of the industrial products company’s stock valued at $1,381,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 66.56% of the company’s stock.
CAT has been the topic of several research analyst reports. Robert W. Baird upgraded Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 target price on the stock in a research report on Thursday, September 20th. Citigroup upgraded Caterpillar to an “outperform” rating in a research report on Friday, September 21st. OTR Global lowered Caterpillar to a “positive” rating in a research report on Friday, September 21st. Macquarie restated a “sell” rating on shares of Caterpillar in a research report on Thursday, October 11th. Finally, UBS Group set a $185.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Caterpillar currently has a consensus rating of “Buy” and an average target price of $158.55.
CAT stock opened at $126.91 on Monday. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $173.24. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market cap of $74.89 billion, a P/E ratio of 18.45, a PEG ratio of 0.70 and a beta of 1.58.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The business had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $13.28 billion. During the same period in the prior year, the business earned $1.95 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 11.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s dividend payout ratio (DPR) is currently 50.00%.
ILLEGAL ACTIVITY WARNING: This article was originally published by Watch List News and is the property of of Watch List News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.watchlistnews.com/sumitomo-mitsui-trust-holdings-inc-raises-position-in-caterpillar-inc-cat/2603741.html.
Caterpillar Company Profile
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.
Featured Article: Investing in Growth Stocks
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.