Foster & Motley Inc. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 73.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,825 shares of the industrial products company’s stock after acquiring an additional 1,196 shares during the period. Foster & Motley Inc.’s holdings in Caterpillar were worth $431,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC increased its holdings in shares of Caterpillar by 13,856.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,253,525 shares of the industrial products company’s stock worth $9,194,000 after purchasing an additional 1,244,543 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Caterpillar by 870.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,129,502 shares of the industrial products company’s stock worth $7,679,000 after purchasing an additional 1,013,117 shares during the period. Alps Advisors Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth about $68,531,000. Janus Henderson Group PLC increased its holdings in shares of Caterpillar by 23.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after purchasing an additional 374,038 shares during the period. Finally, OppenheimerFunds Inc. increased its holdings in shares of Caterpillar by 195.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 509,276 shares of the industrial products company’s stock worth $69,093,000 after purchasing an additional 336,623 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on CAT. Macquarie set a $130.00 price objective on shares of Caterpillar and gave the stock a “sell” rating in a report on Tuesday, September 25th. Robert W. Baird set a $171.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. BMO Capital Markets dropped their price objective on shares of Caterpillar from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday, July 31st. They noted that the move was a valuation call. Oppenheimer began coverage on shares of Caterpillar in a report on Friday, September 7th. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Finally, OTR Global downgraded shares of Caterpillar to a “positive” rating in a report on Friday, September 21st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $158.55.
NYSE CAT opened at $125.79 on Friday. The stock has a market capitalization of $72.10 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 0.67 and a beta of 1.58. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $173.24. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.03. The business had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $13.28 billion. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be paid a $0.86 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a yield of 2.73%. Caterpillar’s payout ratio is currently 50.00%.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
See Also: Retained Earnings
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