BlackRock Inc. raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 6.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,565,629 shares of the industrial products company’s stock after acquiring an additional 2,297,750 shares during the quarter. BlackRock Inc. owned approximately 0.06% of Caterpillar worth $5,919,590,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CAT. Ironwood Investment Counsel LLC grew its stake in shares of Caterpillar by 0.3% in the second quarter. Ironwood Investment Counsel LLC now owns 3,425 shares of the industrial products company’s stock valued at $368,000 after buying an additional 10 shares in the last quarter. Southeast Asset Advisors Inc. grew its stake in shares of Caterpillar by 0.3% in the second quarter. Southeast Asset Advisors Inc. now owns 4,279 shares of the industrial products company’s stock valued at $460,000 after buying an additional 12 shares in the last quarter. WFG Advisors LP grew its stake in shares of Caterpillar by 0.4% in the second quarter. WFG Advisors LP now owns 8,538 shares of the industrial products company’s stock valued at $917,000 after buying an additional 33 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Caterpillar by 6.9% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,597 shares of the industrial products company’s stock valued at $168,000 after buying an additional 103 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after buying an additional 128 shares in the last quarter. 68.70% of the stock is owned by institutional investors.
In other news, insider Jananne A. Copeland sold 3,247 shares of Caterpillar stock in a transaction on Friday, November 24th. The stock was sold at an average price of $136.95, for a total transaction of $444,676.65. Following the completion of the sale, the insider now owns 8,908 shares of the company’s stock, valued at $1,219,950.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas A. Pellette sold 95,199 shares of Caterpillar 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 sale, the insider now directly owns 96,268 shares of the company’s stock, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. Insiders have sold 101,574 shares of company stock valued at $16,413,346 in the last three months. Insiders own 0.14% of the company’s stock.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 34.7% compared to the same quarter last year. equities analysts predict that Caterpillar Inc. will post 9.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, January 19th. Caterpillar’s dividend payout ratio is currently 59.66%.
Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. Vetr raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.44 target price for the company in a research note on Monday, January 29th. Argus raised their target price on shares of Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Bank of America reissued a “buy” rating and issued a $189.00 target price (up from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. Finally, Credit Suisse Group raised their target price on shares of Caterpillar from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. Caterpillar currently has an average rating of “Buy” and an average price target of $167.60.
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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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