First Citizens Bank & Trust Co. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 4,633 shares of the company’s stock after buying an additional 167 shares during the period. First Citizens Bank & Trust Co.’s holdings in Caterpillar were worth $352,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quantitative Systematic Strategies LLC bought a new position in Caterpillar during the second quarter valued at approximately $791,000. Weybosset Research & Management LLC bought a new position in Caterpillar during the second quarter valued at approximately $220,000. Savant Capital LLC raised its position in Caterpillar by 3.6% in the second quarter. Savant Capital LLC now owns 8,995 shares of the company’s stock valued at $682,000 after buying an additional 311 shares in the last quarter. Sabal Trust CO raised its position in Caterpillar by 0.7% in the second quarter. Sabal Trust CO now owns 4,128 shares of the company’s stock valued at $313,000 after buying an additional 28 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. raised its position in Caterpillar by 28.9% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 4,268 shares of the company’s stock valued at $323,000 after buying an additional 956 shares in the last quarter. Hedge funds and other institutional investors own 68.99% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) traded down 0.08% during midday trading on Tuesday, reaching $87.22. 3,715,717 shares of the company’s stock traded hands. The company has a market capitalization of $50.96 billion, a PE ratio of 58.15 and a beta of 1.54. Caterpillar Inc. has a 1-year low of $56.36 and a 1-year high of $89.87. The firm’s 50 day moving average price is $84.61 and its 200-day moving average price is $79.21.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The business had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the prior year, the company earned $1.27 earnings per share. The company’s revenue was down 16.0% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post $3.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Investors of record on Monday, October 24th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 165.59%.
Several research analysts recently commented on CAT shares. Zacks Investment Research lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Tuesday, August 30th. Citigroup Inc. set a $82.00 price objective on shares of Caterpillar and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Jefferies Group reissued a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG set a $90.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Caterpillar has an average rating of “Hold” and an average price target of $76.48.
In related news, insider Bradley M. Halverson sold 2,841 shares of the 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 transaction, the insider now owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis A. Muilenburg bought 1,930 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was acquired at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the acquisition, the director now directly owns 9,558 shares of the company’s stock, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.
Caterpillar Company Profile
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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