Los Angeles Capital Management & Equity Research Inc. Grows Position in Caterpillar, Inc. (CAT)

Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Caterpillar, Inc. (NYSE:CAT) by 155.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 387,531 shares of the industrial products company’s stock after acquiring an additional 236,057 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.07% of Caterpillar worth $48,329,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CAT. Vanguard Group Inc. grew its stake in Caterpillar by 6.1% during the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after buying an additional 2,377,623 shares in the last quarter. FMR LLC grew its stake in Caterpillar by 11.7% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after buying an additional 2,052,300 shares in the last quarter. Morgan Stanley grew its stake in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA grew its stake in Caterpillar by 16.9% during the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Caterpillar by 8.1% during the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares in the last quarter. Institutional investors and hedge funds own 68.61% of the company’s stock.

A number of brokerages have issued reports on CAT. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $135.41 price objective on the stock in a research note on Monday, November 13th. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a report on Monday, October 30th. BMO Capital Markets increased their target price on shares of Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Argus increased their target price on shares of Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Citigroup increased their target price on shares of Caterpillar from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. 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 company. The stock presently has a consensus rating of “Hold” and a consensus price target of $133.92.

Caterpillar, Inc. (CAT) opened at $141.50 on Tuesday. The stock has a market cap of $84,195.02, a P/E ratio of 25.50, a P/E/G ratio of 2.14 and a beta of 1.29. Caterpillar, Inc. has a fifty-two week low of $90.34 and a fifty-two week high of $145.19. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58.

Caterpillar (NYSE:CAT) last issued 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 business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. equities analysts expect that Caterpillar, Inc. will post 6.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were issued a $0.78 dividend. The ex-dividend date was Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.20%. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.

In other Caterpillar news, insider Bradley M. Halverson sold 2,600 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $137.67, for a total transaction of $357,942.00. Following the completion of the sale, the insider now owns 5,214 shares of the company’s stock, valued at approximately $717,811.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bradley M. Halverson sold 17,210 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by company insiders.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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