Thoroughbred Financial Services LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 13,546.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 517,205 shares of the industrial products company’s stock after purchasing an additional 513,415 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Caterpillar were worth $51,720,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CAT. Clarfeld Financial Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $26,000. Paragon Capital Management LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $40,000. Legacy Advisors LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $47,000. Sound Income Strategies LLC increased its position in shares of Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 72 shares during the period. Finally, Exane Derivatives bought a new stake in Caterpillar in the second quarter valued at $54,000. Hedge funds and other institutional investors own 65.48% of the company’s stock.
CAT stock traded down $0.53 during mid-day trading on Friday, reaching $134.18. The company had a trading volume of 470,732 shares, compared to its average volume of 4,253,918. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 0.98. The stock’s 50 day moving average is $133.06. The company has a market capitalization of $75.44 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 0.90 and a beta of 1.54. Caterpillar Inc. has a 52 week low of $112.06 and a 52 week high of $159.37.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). The company had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.97 earnings per share. As a group, equities analysts expect that Caterpillar Inc. will post 12.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.07%. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, July 19th. Caterpillar’s dividend payout ratio (DPR) is currently 36.72%.
A number of analysts have weighed in on CAT shares. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Goldman Sachs Group set a €76.30 ($88.72) price target on Stroeer SE & Co KGaA and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research lowered GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. Morgan Stanley increased their target price on Xilinx from $126.00 to $134.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Macquarie set a $155.00 target price on Deckers Outdoor and gave the company a “hold” rating in a research note on Tuesday, June 11th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $144.72.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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