Alliancebernstein L.P. cut its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 2.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 957,066 shares of the industrial products company’s stock after selling 29,084 shares during the period. Alliancebernstein L.P. owned 0.16% of Caterpillar worth $88,777,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Private Trust Co. NA increased its stake in shares of Caterpillar by 23.0% in the first quarter. Private Trust Co. NA now owns 7,548 shares of the industrial products company’s stock worth $700,000 after buying an additional 1,413 shares during the period. State of Tennessee Treasury Department boosted its stake in Caterpillar by 58.4% in the first quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock valued at $26,746,000 after buying an additional 106,270 shares in the last quarter. Stevens Capital Management LP boosted its stake in Caterpillar by 211.0% in the first quarter. Stevens Capital Management LP now owns 153,894 shares of the industrial products company’s stock valued at $14,275,000 after buying an additional 104,412 shares in the last quarter. World Asset Management Inc boosted its stake in Caterpillar by 9.5% in the first quarter. World Asset Management Inc now owns 63,392 shares of the industrial products company’s stock valued at $5,880,000 after buying an additional 5,512 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its stake in Caterpillar by 3.1% in the first quarter. Ipswich Investment Management Co. Inc. now owns 50,212 shares of the industrial products company’s stock valued at $4,658,000 after buying an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 70.53% of the company’s stock.
Caterpillar, Inc. (CAT) traded down 1.04% during trading on Thursday, reaching $113.15. The company had a trading volume of 3,186,723 shares. The company has a market capitalization of $66.87 billion, a PE ratio of 632.12 and a beta of 1.25. Caterpillar, Inc. has a 52-week low of $79.93 and a 52-week high of $115.46. The company has a 50 day moving average price of $109.51 and a 200 day moving average price of $101.06.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating 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 company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.
CAT has been the topic of a number of recent research reports. Robert W. Baird set a $102.00 price target on shares of Caterpillar and gave the company a “hold” rating in a research report on Wednesday, April 12th. Vetr cut shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price target on the stock. in a research report on Tuesday, April 25th. Stifel Nicolaus reduced their price target on shares of Caterpillar from $111.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, April 26th. Royal Bank Of Canada reissued a “hold” rating and set a $101.00 target price on shares of Caterpillar in a research report on Wednesday, April 26th. Finally, Raymond James Financial, Inc. raised shares of Caterpillar to a “buy” rating and set a $55.00 target price on the stock in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $107.15.
In related news, insider Suzette M. Long sold 13,859 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were 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 sold 201,471 shares of company stock worth $22,979,332 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.
About Caterpillar
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