Pacer Advisors Inc. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,563 shares of the industrial products company’s stock after acquiring an additional 5,845 shares during the period. Pacer Advisors Inc.’s holdings in Caterpillar were worth $7,650,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Sound Income Strategies LLC lifted its stake in Caterpillar by 23.5% in the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 72 shares during the last quarter. First Merchants Corp lifted its position in shares of Caterpillar by 0.4% during the 2nd quarter. First Merchants Corp now owns 20,577 shares of the industrial products company’s stock worth $2,804,000 after buying an additional 75 shares during the last quarter. LexAurum Advisors LLC lifted its position in shares of Caterpillar by 4.7% during the 2nd quarter. LexAurum Advisors LLC now owns 1,700 shares of the industrial products company’s stock worth $232,000 after buying an additional 77 shares during the last quarter. Claro Advisors LLC lifted its position in shares of Caterpillar by 3.5% during the 2nd quarter. Claro Advisors LLC now owns 2,341 shares of the industrial products company’s stock worth $319,000 after buying an additional 79 shares during the last quarter. Finally, Financial Advocates Investment Management lifted its position in shares of Caterpillar by 1.1% during the 2nd quarter. Financial Advocates Investment Management now owns 7,484 shares of the industrial products company’s stock worth $1,020,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.
CAT traded up $5.26 during trading on Friday, hitting $127.95. The stock had a trading volume of 1,265,980 shares, compared to its average volume of 3,535,161. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. The firm has a market capitalization of $66.37 billion, a P/E ratio of 11.40, a PEG ratio of 0.84 and a beta of 1.52. The company’s 50-day moving average price is $123.20 and its 200 day moving average price is $129.21. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $145.89.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.12 by ($0.29). The firm had revenue of $14.43 billion during the quarter, compared to analyst estimates of $14.47 billion. Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.97 earnings per share. As a group, equities analysts expect that Caterpillar Inc. will post 11.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 annualized dividend and a yield of 3.22%. Caterpillar’s dividend payout ratio is currently 36.72%.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $126.34, for a total value of $634,100.46. Following the transaction, the general counsel now directly owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.37% of the company’s stock.
Several analysts have recently weighed in on CAT shares. Bank of America restated a “buy” rating and set a $145.00 price objective (down previously from $150.00) on shares of Caterpillar in a research report on Monday, September 9th. Cleveland Research restated a “hold” rating on shares of Caterpillar in a research report on Monday, September 30th. Robert W. Baird reduced their price objective on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Buckingham Research downgraded shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $162.00 to $140.00 in a research report on Thursday, July 25th. Finally, Wells Fargo & Co downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price objective for the company. in a research report on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $137.66.
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.
Featured Story: What is a Futures Contract?
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.