Burney Co. lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 20.5% during the first quarter, HoldingsChannel reports. The firm owned 14,541 shares of the industrial products company’s stock after selling 3,752 shares during the period. Burney Co.’s holdings in Caterpillar were worth $2,143,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the company. Waratah Capital Advisors Ltd. bought a new position in shares of Caterpillar during the 1st quarter worth about $3,998,000. Stevens Capital Management LP boosted its position in shares of Caterpillar by 9,789.3% during the 1st quarter. Stevens Capital Management LP now owns 208,861 shares of the industrial products company’s stock worth $30,782,000 after purchasing an additional 206,749 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Caterpillar by 12.5% during the 1st quarter. Thrivent Financial for Lutherans now owns 141,043 shares of the industrial products company’s stock worth $20,787,000 after purchasing an additional 15,672 shares in the last quarter. Aperio Group LLC boosted its position in shares of Caterpillar by 3.3% during the 1st quarter. Aperio Group LLC now owns 309,864 shares of the industrial products company’s stock worth $45,668,000 after purchasing an additional 9,958 shares in the last quarter. Finally, Sawtooth Solutions LLC boosted its position in shares of Caterpillar by 34.8% during the 1st quarter. Sawtooth Solutions LLC now owns 5,566 shares of the industrial products company’s stock worth $820,000 after purchasing an additional 1,437 shares in the last quarter. 69.57% of the stock is currently owned by institutional investors.
NYSE:CAT opened at $153.69 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.36 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $91.24 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.07 and a beta of 1.31. Caterpillar Inc. has a 52 week low of $152.50 and a 52 week high of $153.85.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.71. The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.99 billion. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. equities analysts forecast that Caterpillar Inc. will post 10.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, May 19th. Shareholders of record on Monday, April 23rd will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $3.12 annualized dividend and a yield of 2.03%. Caterpillar’s dividend payout ratio (DPR) is 45.35%.
In related news, Director David L. Calhoun purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was bought at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the purchase, the director now directly owns 19,579 shares in the company, valued at approximately $3,041,989.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas A. Pellette sold 54,481 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $150.17, for a total transaction of $8,181,411.77. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
CAT has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Caterpillar in a research report on Friday, March 2nd. They set an “overweight” rating and a $185.00 price objective 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. Bank of America raised their price target on shares of Caterpillar from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Wells Fargo set a $180.00 price target on shares of Caterpillar and gave the company a “buy” rating in a research report on Monday, April 16th. Finally, UBS 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 investment analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $172.55.
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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