Envestnet Asset Management Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 73.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,469 shares of the industrial products company’s stock after selling 52,995 shares during the period. Envestnet Asset Management Inc.’s holdings in Caterpillar were worth $2,426,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CAT. Beach Investment Management LLC. acquired a new position in Caterpillar during the second quarter worth $231,000. NGAM Advisors L.P. boosted its position in Caterpillar by 2.9% during the second quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after purchasing an additional 2,286 shares in the last quarter. Bank of Nova Scotia boosted its position in Caterpillar by 527.0% during the first quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after purchasing an additional 164,989 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Caterpillar by 9.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock worth $5,995,000 after purchasing an additional 4,291 shares in the last quarter. Finally, Wealthsource Partners LLC purchased a new stake in Caterpillar during the second quarter worth $316,000. 68.54% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Inc. (CAT) traded up $1.10 during mid-day trading on Friday, hitting $170.30. The stock had a trading volume of 4,130,000 shares, compared to its average volume of 4,120,000. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. Caterpillar Inc. has a fifty-two week low of $90.34 and a fifty-two week high of $170.67. The firm has a market capitalization of $101,320.00, a price-to-earnings ratio of 118.26, a P/E/G ratio of 2.01 and a beta of 1.29.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. research analysts expect that Caterpillar Inc. will post 6.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a yield of 1.83%. Caterpillar’s dividend payout ratio (DPR) is presently 216.67%.
In other Caterpillar news, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares in the company, valued at approximately $1,526,587.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $135.69, for a total value of $3,330,782.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by insiders.
A number of research firms have commented on CAT. Bank of America reiterated a “buy” rating and set a $189.00 target price (up from $158.00) on shares of Caterpillar in a research report on Friday. JPMorgan Chase & Co. upgraded Caterpillar from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $161.96 to $200.00 in a research report on Monday. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $141.37 price objective on the stock. in a research report on Thursday, January 4th. UBS Group set a $180.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Friday, January 5th. They noted that the move was a valuation call. Finally, ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $147.72.
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