Parsons Capital Management Inc. RI cut its position in Caterpillar, Inc. (NYSE:CAT) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,865 shares of the industrial products company’s stock after selling 1,460 shares during the period. Parsons Capital Management Inc. RI’s holdings in Caterpillar were worth $3,791,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. S. R. Schill & Associates increased its stake in shares of Caterpillar by 0.3% in the first quarter. S. R. Schill & Associates now owns 2,204 shares of the industrial products company’s stock worth $204,000 after buying an additional 6 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Caterpillar by 0.3% in the first quarter. Clearbridge Investments LLC now owns 3,635 shares of the industrial products company’s stock worth $337,000 after buying an additional 10 shares during the last quarter. Southeast Asset Advisors Inc. increased its stake in shares of Caterpillar by 0.3% in the first quarter. Southeast Asset Advisors Inc. now owns 4,267 shares of the industrial products company’s stock worth $396,000 after buying an additional 13 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Caterpillar by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,265 shares of the industrial products company’s stock worth $210,000 after buying an additional 24 shares during the last quarter. Finally, Cypress Capital Group increased its stake in shares of Caterpillar by 0.8% in the first quarter. Cypress Capital Group now owns 3,108 shares of the industrial products company’s stock worth $289,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 70.27% of the company’s stock.
Caterpillar, Inc. (NYSE CAT) traded up 1.11% on Friday, reaching $114.40. The company’s stock had a trading volume of 2,073,254 shares. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $115.46. The stock has a market cap of $67.61 billion, a PE ratio of 639.11 and a beta of 1.25. The company’s 50 day moving average price is $110.79 and its 200-day moving average price is $101.65.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the 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 business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the business posted $1.09 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Caterpillar, Inc. will post $5.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be paid a $0.78 dividend. 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 dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, July 18th. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
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A number of equities research analysts have weighed in on the company. UBS AG reiterated a “neutral” rating and issued a $102.00 target price (up from $98.00) on shares of Caterpillar in a report on Friday, April 28th. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Vetr raised Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective for the company in a research note on Thursday, August 10th. BidaskClub cut Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research note on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $107.15.
In other news, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,471 shares of company stock worth $22,979,332. Company insiders own 0.15% of the company’s stock.
Caterpillar Company Profile
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