Asset Dedication LLC boosted its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,736 shares of the industrial products company’s stock after buying an additional 73 shares during the period. Asset Dedication LLC’s holdings in Caterpillar were worth $817,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CAT. Norges Bank bought a new position in Caterpillar during the fourth quarter valued at about $414,361,000. FMR LLC increased its position in Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock valued at $1,628,992,000 after buying an additional 1,798,312 shares during the period. Renaissance Technologies LLC bought a new position in Caterpillar during the first quarter valued at about $143,490,000. Morgan Stanley increased its position in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after buying an additional 1,365,856 shares during the period. Finally, Vanguard Group Inc. increased its position in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock valued at $3,603,500,000 after buying an additional 1,342,984 shares during the period. 70.55% of the stock is owned by institutional investors and hedge funds.
Shares of Caterpillar, Inc. (NYSE:CAT) traded up 0.70% on Friday, hitting $114.35. The stock had a trading volume of 2,631,896 shares. The stock has a market cap of $67.49 billion, a P/E ratio of 638.83 and a beta of 1.25. Caterpillar, Inc. has a 12 month low of $79.93 and a 12 month high of $114.90. The firm has a 50 day moving average of $107.93 and a 200 day moving average of $100.19.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Caterpillar’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Caterpillar, Inc. will post $5.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is currently 2,080.00%.
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CAT has been the topic of several recent analyst reports. BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Axiom Securities restated a “sell” rating on shares of Caterpillar in a report on Tuesday, June 6th. Wells Fargo & Company restated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 price objective on the stock in a report on Thursday, April 27th. Finally, Credit Suisse Group set a $123.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given 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 a consensus target price of $106.56.
In related news, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction 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 SEC, which is available at this link. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction 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. Corporate insiders own 0.15% of the company’s stock.
About Caterpillar
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