Smith Salley & Associates maintained its stake in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, Holdings Channel reports. The firm owned 7,140 shares of the company’s stock at the end of the second quarter. Smith Salley & Associates’ holdings in Caterpillar were worth $541,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. King Wealth Management Group LLC acquired a new position in Caterpillar during the first quarter valued at about $291,000. Smith Moore & CO. acquired a new position in Caterpillar during the first quarter valued at about $574,000. AMF Pensionsforsakring AB raised its position in Caterpillar by 65.9% in the first quarter. AMF Pensionsforsakring AB now owns 131,880 shares of the company’s stock valued at $10,094,000 after buying an additional 52,400 shares during the last quarter. Willis Investment Counsel raised its position in Caterpillar by 1.9% in the first quarter. Willis Investment Counsel now owns 210,170 shares of the company’s stock valued at $16,086,000 after buying an additional 4,010 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Caterpillar by 62.9% in the first quarter. Canada Pension Plan Investment Board now owns 290,329 shares of the company’s stock valued at $22,222,000 after buying an additional 112,100 shares during the last quarter. Institutional investors and hedge funds own 69.03% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) traded up 0.95% during mid-day trading on Friday, hitting $87.80. 1,995,540 shares of the stock were exchanged. Caterpillar Inc. has a 52-week low of $56.36 and a 52-week high of $89.87. The stock has a market cap of $51.30 billion, a PE ratio of 58.53 and a beta of 1.54. The stock’s 50 day moving average is $84.22 and its 200 day moving average is $78.93.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The company had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The firm’s revenue was down 16.0% on a year-over-year basis. During the same quarter last year, the business earned $1.27 earnings per share. Analysts forecast that Caterpillar Inc. will post $3.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Investors of record on Monday, October 24th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $3.08 annualized dividend and a yield of 3.54%. Caterpillar’s dividend payout ratio is presently 165.59%.
Several equities analysts have recently issued reports on the stock. Jefferies Group reiterated a “hold” rating on shares of Caterpillar in a report on Wednesday, August 3rd. Citigroup Inc. lifted their target price on shares of Caterpillar from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Barclays PLC lifted their target price on shares of Caterpillar from $78.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Tuesday, August 30th. Finally, Vetr raised shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $79.15 price target for the company in a research report on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $76.48.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the transaction, the insider now directly owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis A. Muilenburg acquired 1,930 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.
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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