Cape Cod Five Cents Savings Bank trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,769 shares of the industrial products company’s stock after selling 426 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Caterpillar were worth $646,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Loeb Partners Corp purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $25,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $26,000. Paragon Capital Management LLC bought a new stake in shares of Caterpillar in the first quarter worth $40,000. PRW Wealth Management LLC bought a new stake in shares of Caterpillar in the fourth quarter worth $43,000. Finally, Legacy Advisors LLC bought a new stake in shares of Caterpillar in the first quarter worth $47,000. 65.66% of the stock is currently owned by hedge funds and other institutional investors.
CAT has been the subject of a number of research analyst reports. UBS Group set a $125.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a research note on Friday, May 3rd. ValuEngine lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Credit Suisse Group restated a “buy” rating and issued a $173.00 price target on shares of Caterpillar in a research note on Thursday, February 14th. Zacks Investment Research upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, Bank of America set a $152.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $145.39.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.10. The firm had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 earnings per share. On average, analysts anticipate that Caterpillar Inc. will post 12.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. Caterpillar’s payout ratio is currently 30.66%.
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Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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