Hammer Asset Management LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 25.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,830 shares of the industrial products company’s stock after buying an additional 3,662 shares during the period. Caterpillar comprises about 2.1% of Hammer Asset Management LLC’s portfolio, making the stock its 23rd biggest position. Hammer Asset Management LLC’s holdings in Caterpillar were worth $2,416,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CAT. Oregon Public Employees Retirement Fund boosted its stake in Caterpillar by 6,835.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock worth $71,000 after buying an additional 8,923,946 shares during the last quarter. Norges Bank acquired a new position in Caterpillar during the 4th quarter worth approximately $733,859,000. Sanders Capital LLC acquired a new position in Caterpillar during the 4th quarter worth approximately $422,262,000. Harris Associates L P lifted its position in Caterpillar by 38.8% during the 4th quarter. Harris Associates L P now owns 3,529,388 shares of the industrial products company’s stock worth $448,479,000 after acquiring an additional 987,103 shares in the last quarter. Finally, LSV Asset Management lifted its position in Caterpillar by 3,805.2% during the 4th quarter. LSV Asset Management now owns 620,926 shares of the industrial products company’s stock worth $78,901,000 after acquiring an additional 605,026 shares in the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.
Shares of CAT stock traded up $0.06 during mid-day trading on Friday, reaching $127.23. The stock had a trading volume of 2,227,692 shares, compared to its average volume of 4,437,349. The company has a current ratio of 1.43, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. Caterpillar Inc. has a one year low of $112.06 and a one year high of $159.37. The company has a market capitalization of $72.11 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.87 and a beta of 1.52.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 EPS for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.10. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. The company had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter last year, the company earned $2.82 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 12.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.24%. Caterpillar’s dividend payout ratio is presently 30.66%.
Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a report on Tuesday, April 2nd. UBS Group set a $125.00 price objective on Caterpillar and gave the stock a “sell” rating in a research note on Thursday, April 4th. Bank of America set a $152.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Macquarie set a $115.00 price target on Caterpillar and gave the stock a “sell” rating in a research report on Tuesday. Finally, Standpoint Research upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $145.39.
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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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