Personal Capital Advisors Corp purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the first quarter, according to its most recent filing with the SEC. The fund purchased 2,626 shares of the industrial products company’s stock, valued at approximately $244,000.
Several other hedge funds and other institutional investors have also bought and sold shares of CAT. Mn Services Vermogensbeheer B.V. increased its position in Caterpillar by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 15,621 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 516 shares during the period. Nicolet Bankshares Inc. increased its position in Caterpillar by 4.9% in the first quarter. Nicolet Bankshares Inc. now owns 3,855 shares of the industrial products company’s stock valued at $358,000 after buying an additional 181 shares during the period. Country Trust Bank increased its position in Caterpillar by 2.4% in the first quarter. Country Trust Bank now owns 184,409 shares of the industrial products company’s stock valued at $17,106,000 after buying an additional 4,278 shares during the period. V Wealth Management LLC increased its position in Caterpillar by 15.3% in the first quarter. V Wealth Management LLC now owns 5,108 shares of the industrial products company’s stock valued at $474,000 after buying an additional 677 shares during the period. Finally, Diversified Trust Co increased its position in Caterpillar by 1.9% in the first quarter. Diversified Trust Co now owns 2,777 shares of the industrial products company’s stock valued at $258,000 after buying an additional 53 shares during the period. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.66. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.27 billion. Caterpillar had a positive return on equity of 13.44% and a negative net margin of 0.17%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, May 20th. Investors of record on Monday, April 24th will be issued a $0.77 dividend. The ex-dividend date is Thursday, April 20th. This represents a $3.08 annualized dividend and a dividend yield of 3.01%. Caterpillar’s dividend payout ratio is presently -2,369.23%.
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Several research analysts have recently issued reports on CAT shares. Evercore ISI upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, February 10th. Barclays PLC raised their target price on shares of Caterpillar from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday, January 27th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 target price on the stock in a report on Thursday, April 27th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a report on Monday, May 15th. Finally, Bank of America Corp upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $105.00 to $120.00 in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.65.
In other news, insider Lange Bob De acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were purchased at an average price of $99.32 per share, for a total transaction of $99,320.00. Following the acquisition, the insider now owns 10,230 shares of the company’s stock, valued at $1,016,043.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.
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