Telemus Capital LLC Grows Position in Caterpillar Inc. (CAT)

Telemus Capital LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 164.6% in the 1st quarter, Holdings Channel reports. The firm owned 4,586 shares of the industrial products company’s stock after purchasing an additional 2,853 shares during the period. Telemus Capital LLC’s holdings in Caterpillar were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CAT. Oregon Public Employees Retirement Fund raised its position in Caterpillar by 6,835.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock worth $71,000 after buying an additional 8,923,946 shares during the last quarter. Norges Bank purchased a new position in Caterpillar during the 4th quarter worth $733,859,000. Sanders Capital LLC purchased a new position in Caterpillar during the 4th quarter worth $422,262,000. Harris Associates L P raised its position in Caterpillar by 38.8% during the 4th quarter. Harris Associates L P now owns 3,529,388 shares of the industrial products company’s stock worth $448,479,000 after buying an additional 987,103 shares during the last quarter. Finally, LSV Asset Management raised its position in Caterpillar by 3,805.2% during the 4th quarter. LSV Asset Management now owns 620,926 shares of the industrial products company’s stock worth $78,901,000 after buying an additional 605,026 shares during the last quarter. Hedge funds and other institutional investors own 67.63% of the company’s stock.

CAT has been the subject of a number of analyst reports. Bank of America set a $152.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, January 29th. UBS Group cut shares of Caterpillar from a “buy” rating to a “sell” rating and lowered their price objective for the company from $154.00 to $125.00 in a research note on Tuesday, February 26th. Credit Suisse Group decreased their price target on shares of Caterpillar from $183.00 to $173.00 and set an “outperform” rating on the stock in a research note on Friday, January 18th. Zacks Investment Research cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $188.00 price objective on shares of Caterpillar in a report on Monday, January 28th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $145.39.

Caterpillar stock traded up $1.09 during mid-day trading on Thursday, reaching $128.39. The company’s stock had a trading volume of 81,486 shares, compared to its average volume of 4,491,240. The company has a market cap of $71.66 billion, a PE ratio of 11.42, a P/E/G ratio of 0.85 and a beta of 1.45. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.43 and a quick ratio of 0.98. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $161.60.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.10. The firm had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 12.24 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. Caterpillar’s payout ratio is currently 30.66%.

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About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

Further Reading: Differences Between Momentum Investing and Long Term Investing

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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