Ladenburg Thalmann Financial Services Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 164,519 shares of the industrial products company’s stock after purchasing an additional 12,419 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Caterpillar were worth $25,925,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CAT. Gradient Investments LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Caterpillar in the fourth quarter valued at approximately $131,000. Clearbridge LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at approximately $140,000. Aevitas Wealth Management Inc. bought a new stake in shares of Caterpillar in the fourth quarter valued at approximately $143,000. Finally, Massey Quick Simon & CO. LLC raised its position in shares of Caterpillar by 4,240.7% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 1,145 shares during the period. 69.28% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Inc. (NYSE:CAT) opened at $153.69 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. Caterpillar Inc. has a 12 month low of $90.34 and a 12 month high of $173.24. The company has a market cap of $92,333.19, a P/E ratio of 121.98, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. During the same quarter in the previous year, the company earned $0.83 EPS. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. sell-side analysts expect that Caterpillar Inc. will post 9.1 earnings per share for the current year.
In other Caterpillar news, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were 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 of the company’s stock, valued at approximately $15,700,348.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the transaction, the general counsel now directly owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
Several analysts have recently issued reports on the stock. Credit Suisse Group reissued a “buy” rating and issued a $210.00 price target on shares of Caterpillar in a research report on Wednesday. ValuEngine lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Morgan Stanley assumed coverage on shares of Caterpillar in a research report on Friday, March 2nd. They issued an “overweight” rating and a $185.00 price target on the stock. Vetr raised shares of Caterpillar from a “buy” rating to a “strong-buy” rating and set a $180.95 price target on the stock in a research report on Thursday, March 1st. Finally, UBS Group set a $190.00 price target on shares of Caterpillar and gave the company a “buy” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $170.91.
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Caterpillar Company Profile
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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