BKD Wealth Advisors LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 11.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,171 shares of the industrial products company’s stock after purchasing an additional 2,525 shares during the quarter. BKD Wealth Advisors LLC’s holdings in Caterpillar were worth $3,710,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CAT. BlackRock Inc. lifted its stake in shares of Caterpillar by 6.5% during the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after purchasing an additional 2,297,750 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Caterpillar by 99.6% during the 1st quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products company’s stock worth $293,415,000 after purchasing an additional 993,438 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Caterpillar during the 4th quarter valued at about $148,604,000. Fred Alger Management Inc. acquired a new position in Caterpillar during the 4th quarter valued at about $103,179,000. Finally, TIAA CREF Investment Management LLC increased its position in Caterpillar by 17.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock valued at $635,902,000 after buying an additional 607,875 shares in the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.
In other news, CFO Joseph E. Creed sold 4,532 shares of the company’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $155.67, for a total value of $705,496.44. Following the sale, the chief financial officer now owns 2,554 shares in the company, valued at $397,581.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas A. Pellette sold 54,481 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $150.17, for a total value of $8,181,411.77. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
Shares of Caterpillar opened at $143.13 on Thursday, Marketbeat reports. The company has a current ratio of 1.36, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $88.90 billion, a PE ratio of 20.80, a PEG ratio of 1.05 and a beta of 1.32. Caterpillar Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.71. The business had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.99 billion. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. The company’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 earnings per share. research analysts anticipate that Caterpillar Inc. will post 10.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, July 20th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Thursday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.78. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.40%. Caterpillar’s dividend payout ratio is currently 45.35%.
Several research analysts recently issued reports on CAT shares. Daiwa Capital Markets lowered Caterpillar from an “outperform” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Wednesday, April 25th. TheStreet raised Caterpillar from a “c+” rating to an “a-” rating in a research report on Tuesday, April 24th. Vetr lowered Caterpillar from a “strong-buy” rating to a “buy” rating and set a $169.76 target price on the stock. in a research report on Monday, March 19th. Morgan Stanley set a $185.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, April 25th. Finally, Citigroup raised Caterpillar from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Monday, April 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $173.16.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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