State of Wisconsin Investment Board lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 710,709 shares of the industrial products company’s stock after acquiring an additional 48,106 shares during the quarter. State of Wisconsin Investment Board’s holdings in Caterpillar were worth $111,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in CAT. Jennison Associates LLC lifted its holdings in Caterpillar by 126.5% in the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after acquiring an additional 3,324,051 shares during the period. Vanguard Group Inc. lifted its holdings in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after acquiring an additional 2,377,623 shares during the period. FMR LLC lifted its holdings in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after acquiring an additional 2,052,300 shares during the period. Balyasny Asset Management LLC lifted its holdings in Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after acquiring an additional 1,216,053 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Caterpillar by 61.7% in the second quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock valued at $268,768,000 after acquiring an additional 954,200 shares during the period. 68.70% of the stock is currently owned by institutional investors.
Several research firms have recently commented on CAT. Seaport Global Securities raised Caterpillar from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $170.90 to $195.00 in a research note on Tuesday, January 23rd. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $164.34 price objective on the stock in a research note on Monday, January 22nd. Citigroup reaffirmed a “neutral” rating and issued a $185.00 price objective (up previously from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. Barclays set a $180.00 price objective on Caterpillar and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Bank of America reaffirmed a “buy” rating and issued a $189.00 price objective (up previously from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Caterpillar presently has an average rating of “Buy” and an average price target of $167.60.
Caterpillar Inc. (NYSE:CAT) opened at $156.29 on Monday. The firm has a market capitalization of $93,402.93, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.23. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35. Caterpillar Inc. has a 1-year low of $90.34 and a 1-year high of $173.24.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.39. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. equities research analysts expect that Caterpillar Inc. will post 9.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is 247.62%.
In other news, insider Thomas A. Pellette sold 95,199 shares of Caterpillar stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the completion of the transaction, the insider now owns 96,268 shares in the company, valued at approximately $15,700,348.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jananne A. Copeland sold 3,247 shares of Caterpillar stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $136.95, for a total value of $444,676.65. Following the completion of the transaction, the insider now owns 8,908 shares of the company’s stock, valued at approximately $1,219,950.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,784 shares of company stock valued at $18,776,796. Company insiders own 0.14% of the company’s stock.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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