Stamos Capital Partners L.P. trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 85.7% in the 1st quarter, HoldingsChannel reports. The fund owned 1,500 shares of the industrial products company’s stock after selling 8,971 shares during the quarter. Stamos Capital Partners L.P.’s holdings in Caterpillar were worth $206,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc boosted its holdings in Caterpillar by 1.1% during 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. boosted its holdings in Caterpillar by 1.5% during 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 boosted its holdings in Caterpillar by 6,835.4% during 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 boosted its holdings in Caterpillar by 1.9% during 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 boosted its holdings in Caterpillar by 4.8% during 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. Hedge funds and other institutional investors own 65.66% of the company’s stock.
CAT has been the subject of a number of recent analyst reports. UBS Group lowered shares of Caterpillar from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $154.00 to $125.00 in a research note on Tuesday, February 26th. Credit Suisse Group reiterated a “buy” rating and issued a $173.00 target price on shares of Caterpillar in a research report on Thursday, February 14th. Zacks Investment Research upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, OTR Global downgraded shares of Caterpillar to a “positive” rating in a report on Friday, February 15th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $145.39.
Shares of CAT opened at $127.17 on Friday. The stock has a market capitalization of $72.69 billion, a PE ratio of 11.33, a P/E/G 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. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.43.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.10. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.82 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 12.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 annualized dividend and a dividend yield of 3.24%. Caterpillar’s dividend payout ratio is presently 30.66%.
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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