Xact Kapitalforvaltning AB Boosts Holdings in Caterpillar Inc. (NYSE:CAT)
Xact Kapitalforvaltning AB grew its position in Caterpillar Inc. (NYSE:CAT) by 117.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,237 shares of the industrial products company’s stock after acquiring an additional 58,001 shares during the period. Xact Kapitalforvaltning AB’s holdings in Caterpillar were worth $14,615,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Caterpillar by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock worth $890,658,000 after buying an additional 321,277 shares during the last quarter. Kings Point Capital Management grew its stake in shares of Caterpillar by 120.8% in the 4th quarter. Kings Point Capital Management now owns 530 shares of the industrial products company’s stock worth $67,000 after buying an additional 290 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of Caterpillar in the 4th quarter worth approximately $666,000. Polar Capital LLP grew its stake in shares of Caterpillar by 17.0% in the 4th quarter. Polar Capital LLP now owns 36,253 shares of the industrial products company’s stock worth $4,607,000 after buying an additional 5,261 shares during the last quarter. Finally, Drexel Morgan & Co. boosted its stake in Caterpillar by 4.5% during the 4th quarter. Drexel Morgan & Co. now owns 12,666 shares of the industrial products company’s stock valued at $1,609,000 after purchasing an additional 541 shares during the last quarter. Institutional investors and hedge funds own 65.48% of the company’s stock.
CAT has been the topic of several recent analyst reports. Bank of America set a $152.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Thursday, April 4th. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Standpoint Research upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. UBS Group cut their target price on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research note on Tuesday, June 4th. Finally, Credit Suisse Group set a GBX 3,090 ($40.38) target price on Royal Dutch Shell and gave the company a “buy” rating in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $144.94.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.10. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. The firm had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the business posted $2.82 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 12.21 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a $1.03 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Friday, July 19th. Caterpillar’s dividend payout ratio (DPR) is currently 36.72%.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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