Associated Banc Corp lowered its position in shares of Caterpillar, Inc. (NYSE:CAT) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,007 shares of the industrial products company’s stock after selling 779 shares during the quarter. Associated Banc Corp’s holdings in Caterpillar were worth $11,499,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Baker Ellis Asset Management LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $104,000. Motco grew its holdings in Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 718 shares during the last quarter. Reilly Financial Advisors LLC grew its holdings in Caterpillar by 92.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 535 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Caterpillar during the 1st quarter worth about $107,000. Finally, Chicago Partners Investment Group LLC grew its holdings in Caterpillar by 75.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 496 shares during the last quarter. Institutional investors and hedge funds own 69.23% of the company’s stock.
A number of equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Caterpillar from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, September 14th. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective on the stock in a report on Thursday. Zacks Investment Research lowered shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus reissued a “hold” rating and set a $125.00 price objective on shares of Caterpillar in a report on Sunday, July 30th. Finally, Atlantic Securities raised shares of Caterpillar from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $85.00 to $115.00 in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company. Caterpillar currently has an average rating of “Hold” and an average target price of $119.82.
Shares of Caterpillar, Inc. (CAT) opened at 131.36 on Monday. The stock has a 50 day moving average of $124.78 and a 200-day moving average of $110.67. Caterpillar, Inc. has a 12-month low of $80.33 and a 12-month high of $132.12. The firm has a market capitalization of $77.63 billion, a P/E ratio of 733.85 and a beta of 1.26.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $10.96 billion. During the same period last year, the business earned $1.09 EPS. Caterpillar’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar, Inc. will post $5.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio is currently 2,080.00%.
In related news, Director William A. Osborn sold 5,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of 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 quarter, insiders sold 201,471 shares of company stock worth $22,979,332. 0.14% of the stock is owned by company insiders.
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Caterpillar Company Profile
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