FMR LLC increased its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,561,361 shares of the industrial products company’s stock after buying an additional 1,798,312 shares during the period. FMR LLC owned about 2.98% of Caterpillar worth $1,628,992,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Howe & Rusling Inc. raised its stake in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares during the period. First Personal Financial Services raised its stake in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the period. Financial Architects Inc raised its stake in shares of Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after buying an additional 65 shares during the period. Ledyard National Bank raised its stake in shares of Caterpillar by 145.7% in the first quarter. Ledyard National Bank now owns 1,425 shares of the industrial products company’s stock valued at $132,000 after buying an additional 845 shares during the period. Finally, Integrated Investment Consultants LLC raised its stake in shares of Caterpillar by 17.1% in the first quarter. Integrated Investment Consultants LLC now owns 1,710 shares of the industrial products company’s stock valued at $159,000 after buying an additional 250 shares during the period. 70.27% of the stock is owned by hedge funds and other institutional investors.
Caterpillar, Inc. (NYSE:CAT) traded up 0.59% on Wednesday, reaching $114.32. 737,475 shares of the company traded hands. The stock has a market capitalization of $67.56 billion, a price-to-earnings ratio of 638.66 and a beta of 1.25. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $115.46. The stock has a 50 day moving average of $110.31 and a 200-day moving average of $101.47.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. On average, equities analysts anticipate that Caterpillar, Inc. will post $5.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be issued a $0.78 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, July 18th. Caterpillar’s payout ratio is 2,080.00%.
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CAT has been the subject of several recent research reports. Bank of America Corporation upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their target price for the company from $105.00 to $120.00 in a research report on Thursday, May 11th. Stifel Nicolaus cut their target price on shares of Caterpillar from $111.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 26th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Friday, June 16th. Vetr lowered shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price target for the company. in a research report on Tuesday, April 25th. Finally, Zacks Investment Research lowered shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $107.15.
In related news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,471 shares of company stock worth $22,979,332. 0.15% of the stock is owned by insiders.
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