Cypress Capital Management LLC WY lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,415 shares of the industrial products company’s stock after selling 125 shares during the period. Cypress Capital Management LLC WY’s holdings in Caterpillar were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Bartlett & Co. LLC boosted its holdings in Caterpillar by 150.0% during the fourth quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in Caterpillar by 145.4% during the fourth quarter. Legacy Financial Advisors Inc. now owns 481 shares of the industrial products company’s stock worth $61,000 after buying an additional 285 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Caterpillar during the fourth quarter worth about $69,000. Gemmer Asset Management LLC boosted its holdings in Caterpillar by 166.5% during the fourth quarter. Gemmer Asset Management LLC now owns 589 shares of the industrial products company’s stock worth $75,000 after buying an additional 368 shares during the last quarter. Finally, Litman Gregory Asset Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $76,000. Hedge funds and other institutional investors own 66.58% of the company’s stock.
CAT has been the topic of a number of research analyst reports. Standpoint Research raised Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 price target on the stock in a research report on Wednesday, December 26th. Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a research report on Thursday, January 24th. Bank of America raised their price target on Caterpillar from $140.00 to $163.00 and gave the stock a “buy” rating in a research report on Sunday, December 9th. Robert W. Baird set a $171.00 price target on Caterpillar and gave the stock a “buy” rating in a research report on Monday, December 3rd. Finally, UBS Group set a $160.00 price target on Caterpillar and gave the stock a “buy” rating in a research report on Thursday, November 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $151.50.
Caterpillar (NYSE:CAT) last announced its earnings results on Monday, January 28th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.98 by ($0.43). Caterpillar had a net margin of 11.23% and a return on equity of 45.31%. The firm had revenue of $14.34 billion during the quarter, compared to analyst estimates of $14.36 billion. During the same period in the prior year, the business posted $2.16 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 12.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 20th. Investors of record on Tuesday, January 22nd were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, January 18th. Caterpillar’s dividend payout ratio is presently 30.66%.
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.
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