Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Caterpillar, Inc. (NYSE:CAT) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 153,680 shares of the industrial products company’s stock after selling 14,544 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Caterpillar were worth $16,514,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Baker Ellis Asset Management LLC acquired a new position in shares of Caterpillar in the 2nd quarter worth $104,000. Harbour Capital Advisors LLC acquired a new position in shares of Caterpillar in the 1st quarter worth $107,000. First Personal Financial Services grew its holdings in shares of Caterpillar by 167.4% in the 1st quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 750 shares during the last quarter. Harfst & Associates Inc. acquired a new position in shares of Caterpillar in the 1st quarter worth $111,000. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Caterpillar by 75.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 69.23% of the company’s stock.
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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. Over the last quarter, insiders sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.14% of the company’s stock.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The firm 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%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s payout ratio is 2,080.00%.
A number of equities analysts recently issued reports on CAT shares. BMO Capital Markets restated a “hold” rating and issued a $110.00 target price on shares of Caterpillar in a report on Wednesday, June 21st. Bank of America Corporation set a $120.00 target price on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $123.00 target price on shares of Caterpillar in a research report on Thursday, June 22nd. Deutsche Bank AG cut Caterpillar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $121.00 to $106.00 in a research report on Friday, June 23rd. Finally, BidaskClub raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $119.50.
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