Quantitative Systematic Strategies LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,533 shares of the company’s stock, valued at approximately $791,000.
Other institutional investors have also added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. acquired a new position in Caterpillar during the first quarter valued at $520,000. Marietta Investment Partners LLC acquired a new position in Caterpillar during the first quarter valued at $383,000. NN Investment Partners Holdings N.V. acquired a new position in Caterpillar during the first quarter valued at $34,699,000. Canandaigua National Bank & Trust Co. boosted its position in Caterpillar by 0.8% in the first quarter. Canandaigua National Bank & Trust Co. now owns 19,602 shares of the company’s stock valued at $1,500,000 after buying an additional 152 shares during the period. Finally, Bessemer Group Inc. boosted its position in Caterpillar by 503.0% in the first quarter. Bessemer Group Inc. now owns 80,341 shares of the company’s stock valued at $6,150,000 after buying an additional 67,018 shares during the period. 69.03% of the stock is currently owned by institutional investors.
Caterpillar Inc. (NYSE:CAT) traded up 0.24% on Wednesday, reaching $87.68. The company’s stock had a trading volume of 2,301,453 shares. The company has a 50-day moving average price of $84.01 and a 200 day moving average price of $78.81. The company has a market cap of $51.23 billion, a P/E ratio of 58.45 and a beta of 1.54. Caterpillar Inc. has a 12 month low of $56.36 and a 12 month high of $89.87.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The company earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the company posted $1.27 EPS. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post $3.50 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.52%. Caterpillar’s dividend payout ratio is currently 165.59%.
Several equities analysts have weighed in on CAT shares. Jefferies Group reaffirmed a “hold” rating and set a $69.00 target price on shares of Caterpillar in a research note on Tuesday, June 21st. Vetr cut Caterpillar from a “buy” rating to a “hold” rating and set a $80.38 price target for the company. in a research note on Thursday, June 23rd. Zacks Investment Research cut Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Credit Suisse Group AG reissued a “buy” rating and issued a $87.00 price target on shares of Caterpillar in a research note on Wednesday, July 13th. Finally, Royal Bank Of Canada boosted their price target on Caterpillar from $70.00 to $73.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. Caterpillar has a consensus rating of “Hold” and a consensus price target of $76.23.
In related news, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares in the company, valued at approximately $1,673,793.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis A. Muilenburg purchased 1,930 shares of Caterpillar stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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