Resources Management Corp CT ADV acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,975 shares of the industrial products company’s stock, valued at approximately $1,513,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 8,442.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,376,797 shares of the industrial products company’s stock worth $679,143,000 after purchasing an additional 5,313,853 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Caterpillar by 1,092.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,518,229 shares of the industrial products company’s stock worth $615,789,000 after acquiring an additional 4,139,332 shares during the last quarter. LSV Asset Management raised its holdings in shares of Caterpillar by 168.4% in the 2nd quarter. LSV Asset Management now owns 2,758,506 shares of the industrial products company’s stock worth $375,956,000 after acquiring an additional 1,730,580 shares during the last quarter. Bank of Montreal Can lifted its position in Caterpillar by 54.7% in the 2nd quarter. Bank of Montreal Can now owns 2,814,829 shares of the industrial products company’s stock valued at $383,633,000 after acquiring an additional 995,203 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Caterpillar by 257.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,021,112 shares of the industrial products company’s stock valued at $139,167,000 after acquiring an additional 735,800 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.
In other news, insider Denise C. Johnson sold 4,172 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total transaction of $611,907.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Denise C. Johnson sold 68,993 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $146.37, for a total transaction of $10,098,505.41. Insiders have sold a total of 95,141 shares of company stock worth $13,717,142 over the last quarter. Company insiders own 0.37% of the company’s stock.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing the Zacks’ consensus estimate of $2.82 by ($0.16). The business had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.86 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 10.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, October 18th. Caterpillar’s payout ratio is 36.72%.
CAT has been the subject of a number of analyst reports. Morgan Stanley downgraded Caterpillar from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $150.00 to $145.00 in a research note on Friday, October 18th. Wells Fargo & Co downgraded Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price objective for the company. in a research note on Wednesday, September 11th. Stephens assumed coverage on Caterpillar in a report on Wednesday, August 14th. They issued an “underweight” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $155.00 target price on shares of Caterpillar in a research report on Wednesday, October 23rd. Finally, Credit Suisse Group reiterated a “buy” rating and set a $150.00 price target on shares of Caterpillar in a report on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $138.93.
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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