Teacher Retirement System of Texas increased its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 668.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,032 shares of the industrial products company’s stock after buying an additional 41,782 shares during the period. Teacher Retirement System of Texas’ holdings in Caterpillar were worth $5,990,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Baker Ellis Asset Management LLC purchased a new stake in Caterpillar during the 2nd quarter worth approximately $104,000. Motco increased its stake in Caterpillar by 264.9% during the 2nd quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after buying an additional 718 shares during the period. Acrospire Investment Management LLC increased its stake in Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after buying an additional 900 shares during the period. Harbour Capital Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth approximately $107,000. Finally, Chicago Partners Investment Group LLC grew its holdings in Caterpillar by 75.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 496 shares in the last quarter. 68.61% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. Vetr upgraded shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price target for the company in a report on Thursday, August 10th. UBS set a $155.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a report on Tuesday. ValuEngine cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Wells Fargo & Company set a $150.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $136.28.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. sell-side analysts expect that Caterpillar, Inc. will post 6.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 23rd were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s payout ratio is 216.67%.
In other news, CFO Bradley M. Halverson sold 17,210 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the transaction, the chief financial officer now owns 7,814 shares in the company, valued at approximately $1,073,096.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas A. Pellette sold 24,547 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $135.69, for a total transaction of $3,330,782.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,989 shares of company stock valued at $7,235,850. Company insiders own 0.14% of the company’s stock.
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