TCI Wealth Advisors Inc. reduced its stake in Caterpillar Inc. (NYSE:CAT) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,963 shares of the industrial products company’s stock after selling 150 shares during the period. Caterpillar makes up about 1.0% of TCI Wealth Advisors Inc.’s holdings, making the stock its 23rd largest holding. TCI Wealth Advisors Inc.’s holdings in Caterpillar were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Loeb Partners Corp purchased a new position in shares of Caterpillar during the fourth quarter worth about $25,000. Clarfeld Financial Advisors LLC purchased a new position in shares of Caterpillar during the fourth quarter worth about $26,000. Bartlett & Co. LLC grew its holdings in shares of Caterpillar by 150.0% during the fourth quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. PRW Wealth Management LLC purchased a new position in shares of Caterpillar during the fourth quarter worth about $43,000. Finally, Legacy Advisors LLC purchased a new position in shares of Caterpillar during the first quarter worth about $47,000. Institutional investors and hedge funds own 67.06% of the company’s stock.
CAT has been the topic of several research reports. Zacks Investment Research lowered Caterpillar from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Bank of America set a $152.00 price target on Caterpillar and gave the company a “buy” rating in a report on Tuesday, January 29th. Standpoint Research upgraded Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 price target for the company in a report on Wednesday, December 26th. UBS Group downgraded Caterpillar from a “buy” rating to a “sell” rating and cut their price target for the company from $154.00 to $125.00 in a report on Tuesday, February 26th. Finally, Credit Suisse Group cut their price target on Caterpillar from $183.00 to $173.00 and set an “outperform” rating for the company in a report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $146.71.
Shares of NYSE CAT opened at $141.20 on Monday. Caterpillar Inc. has a 52-week low of $112.06 and a 52-week high of $161.60. The firm has a market cap of $81.27 billion, a PE ratio of 12.58, a P/E/G ratio of 0.73 and a beta of 1.46. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.37 and a quick ratio of 0.96.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Monday, January 28th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.98 by ($0.43). Caterpillar had a net margin of 11.23% and a return on equity of 45.31%. The company had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.36 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 12.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $3.44 annualized dividend and a dividend yield of 2.44%. Caterpillar’s dividend payout ratio is presently 30.66%.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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