Marco Investment Management LLC reduced its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,600 shares of the industrial products company’s stock after selling 246 shares during the period. Caterpillar accounts for approximately 1.6% of Marco Investment Management LLC’s portfolio, making the stock its 17th biggest holding. Marco Investment Management LLC’s holdings in Caterpillar were worth $9,843,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baker Ellis Asset Management LLC bought a new position in Caterpillar during the second quarter valued at about $104,000. Motco raised its holdings in Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares in the last quarter. Acrospire Investment Management LLC raised its holdings in Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares in the last quarter. Reilly Financial Advisors LLC raised its holdings in Caterpillar by 92.9% during the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after buying an additional 535 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in Caterpillar during the first quarter valued at about $107,000. Institutional investors own 69.34% of the company’s stock.
Shares of Caterpillar, Inc. (CAT) opened at 137.81 on Monday. The firm has a market capitalization of $81.44 billion, a P/E ratio of 769.89 and a beta of 1.25. Caterpillar, Inc. has a 12-month low of $80.33 and a 12-month high of $140.44. The firm’s 50-day moving average price is $127.15 and its 200-day moving average price is $112.13.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The firm 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Equities analysts predict that Caterpillar, Inc. will post $6.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.26%. Caterpillar’s payout ratio is presently 216.67%.
CAT has been the topic of several recent research reports. TheStreet upgraded Caterpillar from a “c+” rating to a “b” rating in a report on Tuesday, July 25th. Deutsche Bank AG cut their target price on Caterpillar from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Credit Suisse Group set a $123.00 target price on Caterpillar and gave the company a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday, July 14th. Finally, Bank of America Corporation restated a “buy” rating and set a $135.00 target price (up from $120.00) on shares of Caterpillar in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $133.70.
In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.
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