Bluestein R H & Co. cut its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 15.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 287,496 shares of the industrial products company’s stock after selling 52,856 shares during the quarter. Caterpillar accounts for about 2.0% of Bluestein R H & Co.’s portfolio, making the stock its 25th largest holding. Bluestein R H & Co.’s holdings in Caterpillar were worth $35,854,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in shares of Caterpillar by 10.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new position in shares of Caterpillar during the 2nd quarter valued at approximately $104,000. Motco increased its holdings in shares of Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Caterpillar during the 1st quarter valued at approximately $107,000. Finally, Acrospire Investment Management LLC increased its holdings in shares of Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares in the last quarter. 68.53% of the stock is owned by institutional investors.
In other Caterpillar news, Director Daniel M. Dickinson sold 3,813 shares of Caterpillar stock in a transaction on Monday, October 30th. The shares were sold at an average price of $137.09, for a total transaction of $522,724.17. Following the sale, the director now owns 6,554 shares of the company’s stock, valued at approximately $898,487.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 1,572 shares of Caterpillar stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following 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. In the last ninety days, insiders have sold 52,989 shares of company stock worth $7,235,850. 0.14% of the stock is currently owned by corporate insiders.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The company had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. sell-side analysts forecast that Caterpillar, Inc. will post 6.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 2.07%. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.
Several equities analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, September 14th. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price target for the company in a report on Thursday, October 19th. Zacks Investment Research lowered shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Argus boosted their price target 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, Tigress Financial reissued a “buy” rating on shares of Caterpillar in a report on Monday, September 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and an average price target of $139.14.
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