Highstreet Asset Management Inc. trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,031 shares of the industrial products company’s stock after selling 554 shares during the period. Highstreet Asset Management Inc.’s holdings in Caterpillar were worth $1,359,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of CAT. Vanguard Group Inc lifted its stake in shares of Caterpillar by 1.1% in the third quarter. Vanguard Group Inc now owns 49,811,616 shares of the industrial products company’s stock worth $7,595,773,000 after buying an additional 534,451 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Caterpillar by 1.5% in the fourth quarter. BlackRock Inc. now owns 35,985,874 shares of the industrial products company’s stock worth $4,572,725,000 after buying an additional 529,926 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Caterpillar by 6,835.4% in the fourth 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 in the last quarter. Northern Trust Corp lifted its stake in shares of Caterpillar by 1.9% in the fourth quarter. Northern Trust Corp now owns 7,379,026 shares of the industrial products company’s stock worth $937,652,000 after buying an additional 134,479 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Caterpillar by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock worth $890,658,000 after buying an additional 321,277 shares in the last quarter. 65.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of CAT stock opened at $127.17 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.43 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $72.69 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $159.37.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.10. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. As a group, research analysts predict that Caterpillar Inc. will post 12.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Caterpillar’s previous quarterly dividend of $0.86. Caterpillar’s payout ratio is 30.66%.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a research note on Tuesday, April 2nd. UBS Group set a $125.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a research note on Thursday, April 4th. Bank of America set a $152.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Macquarie set a $115.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a research note on Tuesday. Finally, Standpoint Research raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus target price of $145.39.
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Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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