Bank of Hawaii reduced its stake in Caterpillar Inc. (NYSE:CAT) by 18.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,460 shares of the industrial products company’s stock after selling 5,405 shares during the period. Bank of Hawaii’s holdings in Caterpillar were worth $3,178,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of Caterpillar by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 49,811,616 shares of the industrial products company’s stock valued at $7,595,773,000 after purchasing an additional 534,451 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Caterpillar by 9.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 182,795 shares of the industrial products company’s stock worth $23,228,000 after acquiring an additional 15,106 shares during the last quarter. Northern Capital Management LLC grew its holdings in Caterpillar by 57.6% in the 4th quarter. Northern Capital Management LLC now owns 5,475 shares of the industrial products company’s stock worth $696,000 after acquiring an additional 2,000 shares during the last quarter. Beacon Pointe Wealth Advisors LLC bought a new stake in Caterpillar in the 4th quarter worth $369,000. Finally, Atwood & Palmer Inc. grew its holdings in Caterpillar by 5.3% in the 4th quarter. Atwood & Palmer Inc. now owns 2,886 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.
CAT has been the topic of a number of recent analyst reports. UBS Group set a $125.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a report on Friday, May 3rd. ValuEngine lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Credit Suisse Group reissued a “buy” rating and issued a $173.00 price target on shares of Caterpillar in a report on Thursday, February 14th. Zacks Investment Research raised shares of Caterpillar from a “sell” rating to a “hold” rating in a report 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 report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and an average price target of $145.39.
Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.10. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 EPS. Research analysts expect that Caterpillar Inc. will post 12.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.03 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, July 19th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.24%. Caterpillar’s payout ratio is presently 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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