Advisory Services Network LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 23.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,099 shares of the industrial products company’s stock after buying an additional 3,034 shares during the period. Advisory Services Network LLC’s holdings in Caterpillar were worth $2,537,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after purchasing an additional 2,377,623 shares during the last quarter. FMR LLC lifted its position in shares of Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after buying an additional 3,324,051 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Caterpillar by 10.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,058,115 shares of the industrial products company’s stock valued at $328,625,000 after buying an additional 301,739 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Caterpillar by 0.4% during the 3rd quarter. Legal & General Group Plc now owns 2,955,916 shares of the industrial products company’s stock valued at $368,648,000 after buying an additional 11,745 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Seaport Global Securities raised Caterpillar from a “neutral” rating to a “buy” rating and upped their price target for the company from $170.90 to $195.00 in a research report on Tuesday, January 23rd. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $164.34 price target on the stock in a research report on Monday, January 22nd. Citigroup reaffirmed a “neutral” rating and set a $185.00 price target (up previously from $160.00) on shares of Caterpillar in a research report on Friday, January 19th. Barclays set a $180.00 price target on Caterpillar and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Bank of America reaffirmed a “buy” rating and set a $189.00 price target (up previously from $158.00) on shares of Caterpillar in a research report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $167.60.
Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The company’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. research analysts anticipate that Caterpillar Inc. will post 9.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be paid a $0.78 dividend. The ex-dividend date is Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a yield of 2.00%. Caterpillar’s dividend payout ratio is currently 59.66%.
In other Caterpillar news, insider Jananne A. Copeland sold 3,247 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $136.95, for a total value of $444,676.65. Following the transaction, the insider now directly owns 8,908 shares in the company, valued at approximately $1,219,950.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 2,600 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $137.67, for a total value of $357,942.00. Following the completion of the transaction, the insider now owns 5,214 shares in the company, valued at $717,811.38. The disclosure for this sale can be found here. Insiders sold a total of 118,784 shares of company stock worth $18,776,796 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Advisory Services Network LLC Has $2.54 Million Position in Caterpillar Inc. (CAT)” was reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.chaffeybreeze.com/2018/02/18/advisory-services-network-llc-has-2-54-million-position-in-caterpillar-inc-cat.html.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.