Palladium Partners LLC reduced its position in Caterpillar, Inc. (NYSE:CAT) by 18.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,479 shares of the industrial products company’s stock after selling 5,181 shares during the period. Palladium Partners LLC’s holdings in Caterpillar were worth $2,178,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of CAT. Iberiabank Corp boosted its position in Caterpillar by 6.2% in the fourth quarter. Iberiabank Corp now owns 39,437 shares of the industrial products company’s stock worth $3,657,000 after buying an additional 2,315 shares in the last quarter. Impala Asset Management LLC boosted its position in Caterpillar by 698.4% in the fourth quarter. Impala Asset Management LLC now owns 452,937 shares of the industrial products company’s stock worth $42,005,000 after buying an additional 396,205 shares in the last quarter. Credit Agricole S A boosted its position in Caterpillar by 1.8% in the fourth quarter. Credit Agricole S A now owns 1,122,961 shares of the industrial products company’s stock worth $104,143,000 after buying an additional 20,392 shares in the last quarter. Northwest Quadrant Wealth Management LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $579,000. Finally, Diligent Investors LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $224,000. Institutional investors own 70.69% of the company’s stock.
Caterpillar, Inc. (NYSE CAT) traded down 0.24% during trading on Friday, hitting $114.10. 4,704,478 shares of the stock traded hands. Caterpillar, Inc. has a 12 month low of $79.93 and a 12 month high of $114.90. The firm has a 50-day moving average price of $107.50 and a 200 day moving average price of $99.82. The firm has a market cap of $67.34 billion, a PE ratio of 637.43 and a beta of 1.24.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar, Inc. will post $4.90 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be given a dividend of $0.78 per share. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. Caterpillar’s dividend payout ratio is presently 2,080.00%.
CAT has been the topic of a number of research analyst reports. BidaskClub raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research note on Tuesday, June 6th. Wells Fargo & Company reissued an “outperform” rating on shares of Caterpillar in a research note on Wednesday. Raymond James Financial, Inc. raised Caterpillar to a “buy” rating and set a $55.00 price objective on the stock in a research note on Thursday, April 27th. Finally, Credit Suisse Group set a $123.00 price objective on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $105.78.
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