Ironwood Investment Counsel LLC increased its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,425 shares of the industrial products company’s stock after purchasing an additional 10 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Caterpillar were worth $368,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new stake in Caterpillar in the second quarter valued at approximately $104,000. Motco grew its position in Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 718 shares in the last quarter. Acrospire Investment Management LLC grew its position in Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 900 shares in the last quarter. Reilly Financial Advisors LLC grew its position in Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 535 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in Caterpillar in the first quarter valued at approximately $107,000. 69.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Caterpillar, Inc. (CAT) opened at 136.49 on Tuesday. The firm has a 50-day moving average price of $127.67 and a 200-day moving average price of $112.68. The company has a market capitalization of $80.66 billion, a PE ratio of 762.51 and a beta of 1.25. Caterpillar, Inc. has a 1-year low of $80.33 and a 1-year high of $140.44.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. Caterpillar’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. Equities analysts anticipate that Caterpillar, Inc. will post $6.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s dividend payout ratio is 216.67%.
In related news, insider Suzette M. Long sold 13,859 shares of the business’s 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 sale, the insider now owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
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Several analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Vetr raised shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective for the company in a research report on Thursday, August 10th. Deutsche Bank AG set a $149.00 price objective on shares of Caterpillar and gave the company a “hold” rating in a research report on Wednesday, October 25th. Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a research report on Monday. Finally, Citigroup Inc. increased their price objective on shares of Caterpillar from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $133.70.
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