Vaughan David Investments Inc. IL cut its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 65.5% during the first quarter, Holdings Channel reports. The fund owned 94,090 shares of the industrial products company’s stock after selling 178,916 shares during the period. Vaughan David Investments Inc. IL’s holdings in Caterpillar were worth $8,728,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Cibc World Markets Corp boosted its position in shares of Caterpillar by 507.9% in the first quarter. Cibc World Markets Corp now owns 1,276,465 shares of the industrial products company’s stock valued at $118,405,000 after buying an additional 1,066,492 shares during the last quarter. Bancorpsouth Inc. boosted its position in shares of Caterpillar by 1.2% in the first quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock valued at $537,000 after buying an additional 69 shares during the last quarter. American International Group Inc. boosted its position in shares of Caterpillar by 1.1% in the first quarter. American International Group Inc. now owns 5,275,443 shares of the industrial products company’s stock valued at $489,350,000 after buying an additional 58,942 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Caterpillar by 0.4% in the first quarter. Arizona State Retirement System now owns 145,196 shares of the industrial products company’s stock valued at $13,468,000 after buying an additional 600 shares during the last quarter. Finally, Spinnaker Trust boosted its position in shares of Caterpillar by 5.2% in the first quarter. Spinnaker Trust now owns 19,273 shares of the industrial products company’s stock valued at $1,788,000 after buying an additional 951 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.
Shares of Caterpillar, Inc. (CAT) opened at 107.32 on Friday. The stock has a 50 day moving average of $106.32 and a 200-day moving average of $99.06. The firm’s market capitalization is $63.22 billion. Caterpillar, Inc. has a 52-week low of $78.34 and a 52-week high of $110.00.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.66. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Caterpillar had a negative net margin of 0.38% and a positive return on equity of 16.46%. Caterpillar’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. Equities analysts expect that Caterpillar, Inc. will post $4.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be paid a dividend of $0.78 per share. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, July 18th. Caterpillar’s dividend payout ratio is presently -1,155.51%.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://stocknewstimes.com/2017/07/21/vaughan-david-investments-inc-il-has-8-73-million-position-in-caterpillar-inc-nysecat.html.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, July 14th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research note on Thursday, July 13th. Deutsche Bank AG cut their target price on shares of Caterpillar from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $123.00 target price on shares of Caterpillar in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $97.72.
Caterpillar Company Profile
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar, Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
