Neuberger Berman Group LLC decreased its position in Caterpillar, Inc. (NYSE:CAT) by 31.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,541 shares of the industrial products company’s stock after selling 89,610 shares during the quarter. Neuberger Berman Group LLC’s holdings in Caterpillar were worth $20,905,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in CAT. Minneapolis Portfolio Management Group LLC lifted its stake in Caterpillar by 4.7% in the first quarter. Minneapolis Portfolio Management Group LLC now owns 188,873 shares of the industrial products company’s stock valued at $17,520,000 after buying an additional 8,542 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Caterpillar by 4.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 161,413 shares of the industrial products company’s stock valued at $15,154,000 after purchasing an additional 7,542 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Caterpillar by 212.2% during the first quarter. Daiwa Securities Group Inc. now owns 210,532 shares of the industrial products company’s stock valued at $19,528,000 after purchasing an additional 143,092 shares in the last quarter. Girard Partners LTD. raised its stake in shares of Caterpillar by 26.9% during the first quarter. Girard Partners LTD. now owns 7,127 shares of the industrial products company’s stock valued at $661,000 after purchasing an additional 1,510 shares in the last quarter. Finally, Henderson Group PLC raised its stake in shares of Caterpillar by 0.6% during the first quarter. Henderson Group PLC now owns 168,943 shares of the industrial products company’s stock valued at $15,672,000 after purchasing an additional 1,000 shares in the last quarter. 69.23% of the stock is owned by institutional investors and hedge funds.
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Several brokerages have commented on CAT. Wells Fargo & Company set a $150.00 price target on Caterpillar and gave the stock a “buy” rating in a research note on Monday. They noted that the move was a valuation call. Citigroup Inc. lifted their target price on Caterpillar from $125.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $124.44 target price on the stock in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Wednesday, October 11th. Finally, Goldman Sachs Group, Inc. (The) lifted their price target on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $118.88.
In other news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction 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 directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.14% of the stock is owned by company insiders.
Shares of Caterpillar, Inc. (NYSE CAT) opened at 131.47 on Tuesday. The company has a market capitalization of $77.70 billion, a P/E ratio of 734.47 and a beta of 1.25. The firm has a 50 day moving average price of $122.86 and a 200 day moving average price of $109.54. Caterpillar, Inc. has a one year low of $80.33 and a one year high of $132.12.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the business earned $1.09 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Caterpillar, Inc. will post $5.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be issued a $0.78 dividend. The ex-dividend date is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.37%. Caterpillar’s payout ratio is currently 2,080.00%.
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