Macquarie Group Ltd. cut its stake in Caterpillar, Inc. (NYSE:CAT) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,520 shares of the industrial products company’s stock after selling 1,100 shares during the period. Macquarie Group Ltd.’s holdings in Caterpillar were worth $2,098,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baker Ellis Asset Management LLC acquired a new position in Caterpillar in the 2nd quarter valued at $104,000. Motco raised its holdings in Caterpillar by 264.9% in the 2nd 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. Harbour Capital Advisors LLC acquired a new position in Caterpillar in the 1st quarter valued at $107,000. Acrospire Investment Management LLC raised its holdings in Caterpillar by 900.0% in the 2nd 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. Finally, Harfst & Associates Inc. acquired a new position in Caterpillar in the 1st quarter valued at $111,000. 69.41% of the stock is owned by hedge funds and other institutional investors.
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In other news, Director Daniel M. Dickinson sold 3,813 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the transaction, the director now directly owns 6,554 shares of the company’s stock, valued at approximately $898,487.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 11,096 shares in the company, valued at $1,526,587.68. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
Caterpillar, Inc. (NYSE:CAT) opened at $136.63 on Monday. The stock has a market capitalization of $81,285.79, a PE ratio of 24.62, a PEG ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. Caterpillar, Inc. has a 52 week low of $80.59 and a 52 week high of $140.44.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The company had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. sell-side analysts predict that Caterpillar, Inc. will post 6.4 earnings per share for the current fiscal year.
The firm also recently disclosed 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 2.28%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio is 216.67%.
CAT has been the topic of several recent analyst reports. TheStreet upgraded Caterpillar from a “c+” rating to a “b” rating in a research note on Tuesday, July 25th. Bank of America Corporation reiterated a “buy” rating and issued a $135.00 price target (up previously from $120.00) on shares of Caterpillar in a research note on Thursday, July 27th. Credit Suisse Group set a $123.00 price target on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Friday, July 14th. Finally, Tigress Financial upgraded Caterpillar from a “neutral” rating to a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Caterpillar presently has a consensus rating of “Hold” and an average target price of $133.70.
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