BTIM Corp. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, HoldingsChannel reports. The fund bought 1,392 shares of the industrial products company’s stock, valued at approximately $219,000.
Other large investors have also recently added to or reduced their stakes in the company. Beach Investment Management LLC. acquired a new stake in Caterpillar during the 2nd quarter valued at approximately $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Caterpillar by 9.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock valued at $5,995,000 after purchasing an additional 4,291 shares during the period. Wealthsource Partners LLC acquired a new stake in Caterpillar during the 2nd quarter valued at approximately $316,000. Ladenburg Thalmann Financial Services Inc. increased its position in Caterpillar by 18.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,100 shares of the industrial products company’s stock valued at $18,979,000 after purchasing an additional 23,749 shares during the period. Finally, FMR LLC increased its position in 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. 68.68% of the stock is owned by institutional investors and hedge funds.
In related news, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the transaction, the insider now directly owns 96,268 shares in the company, valued at approximately $15,700,348.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,331 shares of company stock worth $22,107,578. 0.14% of the stock is owned by company insiders.
Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.01 billion. During the same period last year, the business earned $0.83 EPS. Caterpillar’s quarterly revenue was up 34.7% compared to the same quarter last year. analysts predict that Caterpillar Inc. will post 9.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s dividend payout ratio is currently 247.62%.
A number of analysts have weighed in on the stock. ValuEngine raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Argus raised shares of Caterpillar to a “buy” rating in a research report on Friday. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 target price for the company in a research report on Thursday, October 19th. Barclays assumed coverage on Caterpillar in a report on Tuesday, December 12th. They set an “overweight” rating and a $162.00 price target on the stock. Finally, Deutsche Bank set a $149.00 price target on Caterpillar and gave the stock a “hold” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Caterpillar has a consensus rating of “Buy” and an average price target of $167.80.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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