Balyasny Asset Management LLC raised its position in shares of Caterpillar, Inc. (NYSE:CAT) by 663.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,032,853 shares of the industrial products company’s stock after purchasing an additional 1,216,053 shares during the quarter. Balyasny Asset Management LLC owned 0.17% of Caterpillar worth $110,990,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 2,377,623 shares during the period. FMR LLC grew its stake in shares of 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 purchasing an additional 2,052,300 shares during the period. Morgan Stanley grew its stake in shares of Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the period. Primecap Management Co. CA grew its stake in shares of Caterpillar by 16.9% during the 1st quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after purchasing an additional 1,047,922 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Caterpillar by 8.1% during the 1st quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after purchasing an additional 419,191 shares during the period. Institutional investors and hedge funds own 69.34% of the company’s stock.
In other news, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the sale, the director now directly owns 6,554 shares of the company’s stock, valued at $898,487.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of Caterpillar stock in a transaction that occurred 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 sale, the insider now directly owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Insiders sold 19,244 shares of company stock worth $2,323,084 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.68. The firm 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%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio is presently 216.67%.
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A number of equities research analysts have issued reports on CAT shares. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research note on Thursday, July 13th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Friday, July 14th. BMO Capital Markets upgraded Caterpillar from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $110.00 to $125.00 in a research note on Monday, July 24th. BidaskClub downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Caterpillar in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $133.70.
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