Legal & General Group Plc increased its position in Caterpillar, Inc. (NYSE:CAT) by 2.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,925,930 shares of the industrial products company’s stock after buying an additional 81,586 shares during the period. Legal & General Group Plc owned 0.50% of Caterpillar worth $271,406,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Howe & Rusling Inc. boosted its position in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares in the last quarter. First Personal Financial Services boosted its position in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the period. Financial Architects Inc boosted its position in Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after buying an additional 65 shares during the period. Ledyard National Bank boosted its position in Caterpillar by 145.7% in the first quarter. Ledyard National Bank now owns 1,425 shares of the industrial products company’s stock valued at $132,000 after buying an additional 845 shares during the period. Finally, Integrated Investment Consultants LLC boosted its position in Caterpillar by 17.1% in the first quarter. Integrated Investment Consultants LLC now owns 1,710 shares of the industrial products company’s stock valued at $159,000 after buying an additional 250 shares during the period. 70.55% of the stock is currently owned by hedge funds and other institutional investors.
Caterpillar, Inc. (CAT) opened at 113.165 on Wednesday. The company’s 50 day moving average price is $107.94 and its 200-day moving average price is $100.19. The company has a market capitalization of $66.79 billion, a P/E ratio of 632.207 and a beta of 1.24. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $114.90.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts forecast that Caterpillar, Inc. will post $4.90 earnings per share for the current fiscal year.
The company 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 an increase from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, July 18th. Caterpillar’s dividend payout ratio is 2,080.00%.
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Several equities analysts have weighed in on CAT shares. Vetr cut Caterpillar from a “hold” rating to a “sell” rating and set a $90.75 target price on the stock. in a research note on Tuesday, April 4th. Bank of America Corporation upgraded Caterpillar from a “neutral” rating to a “buy” rating and lifted their price target for the company from $105.00 to $120.00 in a report on Thursday, May 11th. Raymond James Financial, Inc. upgraded Caterpillar to a “buy” rating and set a $55.00 price target for the company in a report on Thursday, April 27th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Friday, May 5th. Finally, Deutsche Bank AG lowered Caterpillar from a “buy” rating to a “hold” rating and reduced their price target for the company from $121.00 to $106.00 in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $106.14.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
About Caterpillar
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