Tiemann Investment Advisors LLC reduced its position in shares of Caterpillar, Inc. (NYSE:CAT) by 2.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,470 shares of the industrial products company’s stock after selling 150 shares during the period. Tiemann Investment Advisors LLC’s holdings in Caterpillar were worth $693,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in CAT. Howe & Rusling Inc. boosted its position in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares during the period. First Personal Financial Services boosted its position in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after buying an additional 750 shares during the period. Financial Architects Inc boosted its position in Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after buying an additional 65 shares during the period. Ledyard National Bank boosted its position in Caterpillar by 145.7% in the first quarter. Ledyard National Bank now owns 1,425 shares of the industrial products company’s stock worth $132,000 after buying an additional 845 shares during the period. Finally, Integrated Investment Consultants LLC boosted its position in Caterpillar by 17.1% in the first quarter. Integrated Investment Consultants LLC now owns 1,710 shares of the industrial products company’s stock worth $159,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 70.53% of the company’s stock.
Caterpillar, Inc. (NYSE CAT) opened at 114.41 on Wednesday. Caterpillar, Inc. has a one year low of $79.93 and a one year high of $115.25. The stock’s 50 day moving average is $108.62 and its 200 day moving average is $100.47. The company has a market capitalization of $67.52 billion, a PE ratio of 639.16 and a beta of 1.25.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. Caterpillar’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. On average, analysts anticipate that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be paid a dividend of $0.78 per share. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, July 18th. Caterpillar’s dividend payout ratio is presently 2,080.00%.
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A number of research firms have issued reports on CAT. UBS AG reiterated a “neutral” rating and set a $102.00 target price (up previously from $98.00) on shares of Caterpillar in a report on Friday, April 28th. Atlantic Securities upgraded shares of Caterpillar from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $85.00 to $115.00 in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $125.00 price objective on shares of Caterpillar in a research note on Sunday, July 30th. Argus restated a “buy” rating and set a $113.10 price objective (down from $130.00) on shares of Caterpillar in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $120.00 price objective (up from $100.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $106.56.
In related news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the sale, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock worth $22,979,332 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.
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