West Oak Capital LLC Sells 605 Shares of Caterpillar Inc. (CAT)
West Oak Capital LLC cut its position in Caterpillar Inc. (NYSE:CAT) by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,565 shares of the industrial products company’s stock after selling 605 shares during the quarter. West Oak Capital LLC’s holdings in Caterpillar were worth $719,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Caterpillar by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after buying an additional 2,377,623 shares during the period. FMR LLC increased its stake in Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the period. Jennison Associates LLC increased its stake in Caterpillar by 140.9% during the 3rd quarter. Jennison Associates LLC now owns 2,627,319 shares of the industrial products company’s stock valued at $327,653,000 after buying an additional 1,536,470 shares during the period. Balyasny Asset Management LLC increased its stake in Caterpillar by 663.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after buying an additional 1,216,053 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Caterpillar by 61.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock valued at $268,768,000 after buying an additional 954,200 shares during the period. Hedge funds and other institutional investors own 68.54% of the company’s stock.
Several equities analysts have commented on CAT shares. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price on the stock. in a research note on Monday, September 11th. UBS Group raised shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $140.00 in a research note on Monday, September 18th. BMO Capital Markets raised their target price on shares of Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, September 14th. Goldman Sachs Group raised their target price on shares of Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Finally, Barclays started coverage on shares of Caterpillar in a research note on Tuesday, December 12th. They set an “overweight” rating and a $162.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and a consensus target price of $143.02.
Shares of Caterpillar Inc. (NYSE CAT) traded up $2.52 on Friday, hitting $161.96. 3,943,032 shares of the stock traded hands, compared to its average volume of 4,515,748. The firm has a market cap of $96,360.00, a PE ratio of 112.47, a P/E/G ratio of 1.95 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. Caterpillar Inc. has a 12 month low of $90.34 and a 12 month high of $162.05.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The company had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. equities research analysts forecast that Caterpillar Inc. will post 6.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be paid a $0.78 dividend. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 1.93%. Caterpillar’s dividend payout ratio is currently 216.67%.
In other news, CFO Bradley M. Halverson sold 17,210 shares of Caterpillar stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total value of $2,363,449.30. Following the transaction, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley M. Halverson sold 2,600 shares of Caterpillar stock in a transaction that occurred on 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 transaction, the insider now directly owns 5,214 shares in the company, valued at $717,811.38. The disclosure for this sale can be found here. Insiders sold a total of 52,989 shares of company stock worth $7,235,850 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.
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