Field & Main Bank bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,630 shares of the industrial products company’s stock, valued at approximately $221,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Standard Life Aberdeen plc raised its stake in shares of Caterpillar by 9.7% during the 3rd quarter. Standard Life Aberdeen plc now owns 209,886 shares of the industrial products company’s stock valued at $32,008,000 after purchasing an additional 18,610 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Caterpillar during the 3rd quarter valued at $4,771,000. Beaton Management Co. Inc. raised its stake in shares of Caterpillar by 7.5% during the 3rd quarter. Beaton Management Co. Inc. now owns 5,726 shares of the industrial products company’s stock valued at $873,000 after purchasing an additional 400 shares during the period. Nordea Investment Management AB raised its stake in shares of Caterpillar by 18.4% during the 3rd quarter. Nordea Investment Management AB now owns 288,999 shares of the industrial products company’s stock valued at $44,068,000 after purchasing an additional 44,862 shares during the period. Finally, B. Riley Wealth Management Inc. bought a new stake in shares of Caterpillar during the 3rd quarter valued at $1,423,000. 67.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CAT traded down $1.39 during mid-day trading on Wednesday, hitting $123.56. The stock had a trading volume of 4,619,600 shares, compared to its average volume of 4,536,419. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.43 and a quick ratio of 0.98. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $159.37. The company has a market cap of $69.59 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.84 and a beta of 1.45.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.10. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. Caterpillar’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $2.82 EPS. Research analysts expect that Caterpillar Inc. will post 12.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $0.86. Caterpillar’s dividend payout ratio (DPR) is currently 30.66%.
CAT has been the topic of a number of research analyst reports. Bank of America set a $152.00 target price on Caterpillar and gave the stock a “buy” rating in a research note on Tuesday, January 29th. UBS Group lowered Caterpillar from a “buy” rating to a “sell” rating and decreased their target price for the stock from $154.00 to $125.00 in a research note on Tuesday, February 26th. Zacks Investment Research lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Credit Suisse Group restated a “buy” rating and issued a $173.00 target price on shares of Caterpillar in a research note on Thursday, February 14th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $188.00 target price on shares of Caterpillar in a research note on Monday, January 28th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $145.39.
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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