HighPoint Advisor Group LLC raised its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,961 shares of the industrial products company’s stock after purchasing an additional 1,902 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Caterpillar were worth $2,451,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Caterpillar by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares in the last quarter. FMR LLC increased its stake in Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Morgan Stanley increased its stake in Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares in the last quarter. Geode Capital Management LLC increased its stake in Caterpillar by 8.1% during the 1st quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after purchasing an additional 419,191 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Caterpillar by 10.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,058,115 shares of the industrial products company’s stock valued at $328,625,000 after purchasing an additional 301,739 shares in the last quarter. Institutional investors and hedge funds own 68.61% of the company’s stock.
Shares of Caterpillar, Inc. (CAT) opened at $140.34 on Thursday. The company has a market cap of $83,374.00, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.12 and a beta of 1.29. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. Caterpillar, Inc. has a 52-week low of $90.34 and a 52-week high of $145.19.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The company had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. equities analysts expect that Caterpillar, Inc. will post 6.4 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.22%. Caterpillar’s dividend payout ratio is presently 216.67%.
A number of brokerages have issued reports on CAT. BMO Capital Markets upped their price target on shares of Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, September 14th. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price target on the stock in a research note on Thursday, October 19th. Zacks Investment Research lowered shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Argus increased their price objective on shares of Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Jefferies Group reiterated a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a research note on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $136.28.
In related news, insider Jananne A. Copeland sold 3,247 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $136.95, for a total transaction of $444,676.65. Following the sale, the insider now owns 8,908 shares in the company, valued at $1,219,950.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas A. Pellette sold 24,547 shares of the firm’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 have sold 52,989 shares of company stock worth $7,235,850. 0.14% of the stock is owned by company insiders.
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