Segall Bryant & Hamill LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,465 shares of the industrial products company’s stock after selling 331 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Caterpillar were worth $5,079,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Assetmark Inc. boosted its stake in Caterpillar by 47.1% during the first quarter. Assetmark Inc. now owns 3,647 shares of the industrial products company’s stock worth $538,000 after buying an additional 1,168 shares during the period. TLP Group LLC boosted its stake in Caterpillar by 288.2% during the first quarter. TLP Group LLC now owns 4,338 shares of the industrial products company’s stock worth $639,000 after buying an additional 6,643 shares during the period. Verition Fund Management LLC purchased a new position in Caterpillar during the first quarter worth $3,050,000. Hilltop Holdings Inc. purchased a new position in Caterpillar during the first quarter worth $393,000. Finally, Sciencast Management LP purchased a new position in Caterpillar during the first quarter worth $1,140,000. 66.86% of the stock is owned by institutional investors.
CAT stock opened at $150.02 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 $89.70 billion, a P/E ratio of 21.81, a PEG ratio of 1.06 and a beta of 1.32. Caterpillar Inc. has a 1-year low of $102.30 and a 1-year high of $173.24.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, July 20th will be issued a $0.86 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. This represents a $3.44 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, July 19th. Caterpillar’s payout ratio is presently 45.35%.
Several research firms have commented on CAT. Vetr raised shares of Caterpillar from a “buy” rating to a “strong-buy” rating and set a $169.76 price objective for the company in a research note on Monday, March 26th. Buckingham Research began coverage on shares of Caterpillar in a research note on Wednesday, April 11th. They set a “buy” rating and a $170.00 price objective for the company. Zacks Investment Research raised shares of Caterpillar from a “sell” rating to a “hold” rating in a research note on Monday, April 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $174.00 price objective (down from $176.00) on shares of Caterpillar in a research note on Monday, May 14th. Finally, Cleveland Research reaffirmed a “hold” rating on shares of Caterpillar in a research note on Thursday, April 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $173.16.
In related news, CFO Joseph E. Creed sold 4,532 shares of Caterpillar 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 completion of the sale, the chief financial officer now directly owns 2,554 shares in the company, valued at $397,581.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas A. Pellette sold 54,481 shares of Caterpillar stock in a transaction dated Monday, May 7th. The shares were 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. Insiders own 0.36% of the company’s stock.
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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