WealthTrust Axiom LLC bought a new position in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,873 shares of the industrial products company’s stock, valued at approximately $236,000.
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Several other institutional investors have also recently added to or reduced their stakes in the company. Swaine & Leidel Wealth Services LLC purchased a new position in shares of Caterpillar in the third quarter worth approximately $2,581,000. Jacobs & Co. CA grew its position in Caterpillar by 5.5% during the third quarter. Jacobs & Co. CA now owns 35,014 shares of the industrial products company’s stock valued at $4,422,000 after purchasing an additional 1,829 shares in the last quarter. Private Ocean LLC grew its position in Caterpillar by 62.9% during the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Front Barnett Associates LLC grew its position in Caterpillar by 2.2% during the third quarter. Front Barnett Associates LLC now owns 83,327 shares of the industrial products company’s stock valued at $10,525,000 after purchasing an additional 1,827 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Caterpillar by 25.8% during the third quarter. First Trust Advisors LP now owns 430,336 shares of the industrial products company’s stock valued at $54,356,000 after purchasing an additional 88,148 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Caterpillar stock opened at $142.96 on Tuesday. The company’s fifty day moving average price is $141.03 and its two-hundred day moving average price is $130.09. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.44 and a quick ratio of 0.99. Caterpillar Inc. has a 52-week low of $111.75 and a 52-week high of $148.47. The firm has a market capitalization of $79.99 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.54.
Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The firm had revenue of $12.76 billion during the quarter, compared to the consensus estimate of $13.49 billion. During the same period in the previous year, the company posted $2.86 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts predict that Caterpillar Inc. will post 10.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, October 18th. Caterpillar’s payout ratio is 36.72%.
In related news, insider Denise C. Johnson sold 4,172 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $146.67, for a total transaction of $611,907.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Gary Michael Marvel sold 2,180 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $139.38, for a total transaction of $303,848.40. Following the transaction, the chief accounting officer now owns 2,180 shares in the company, valued at approximately $303,848.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,141 shares of company stock worth $13,717,142. 0.37% of the stock is owned by insiders.
A number of brokerages recently commented on CAT. Morgan Stanley downgraded shares of Caterpillar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $150.00 to $145.00 in a research report on Friday, October 18th. Wells Fargo & Co cut shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price for the company. in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 14th. Stephens assumed coverage on shares of Caterpillar in a research note on Wednesday, August 14th. They issued an “underweight” rating and a $100.00 target price for the company. Finally, UBS Group reduced their price objective on shares of Caterpillar to $110.00 and set a “sell” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $138.93.
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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