IBM Retirement Fund reduced its position in shares of Caterpillar, Inc. (NYSE:CAT) by 88.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,222 shares of the industrial products company’s stock after selling 46,411 shares during the period. IBM Retirement Fund’s holdings in Caterpillar were worth $770,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Northstar Group Inc. boosted its position in shares of Caterpillar by 0.3% in the first quarter. Northstar Group Inc. now owns 2,377 shares of the industrial products company’s stock valued at $219,000 after buying an additional 8 shares during the last quarter. Trust Investment Advisors boosted its position in shares of Caterpillar by 0.3% in the first quarter. Trust Investment Advisors now owns 16,080 shares of the industrial products company’s stock worth $1,492,000 after buying an additional 50 shares in the last quarter. Diversified Trust Co boosted its position in shares of Caterpillar by 1.9% in the first quarter. Diversified Trust Co now owns 2,777 shares of the industrial products company’s stock worth $258,000 after buying an additional 53 shares in the last quarter. Financial Architects Inc boosted its position in shares of Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after buying an additional 65 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in shares of Caterpillar by 0.9% in the first quarter. Bahl & Gaynor Inc. now owns 8,434 shares of the industrial products company’s stock valued at $782,000 after buying an additional 73 shares during the last quarter. 70.53% of the stock is owned by institutional investors.
Shares of Caterpillar, Inc. (NYSE:CAT) traded down 0.27% during trading on Friday, hitting $112.85. 2,130,558 shares of the stock traded hands. The stock has a market cap of $66.69 billion, a price-to-earnings ratio of 630.45 and a beta of 1.25. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $115.46. The stock has a 50 day moving average price of $109.77 and a 200-day moving average price of $101.19.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The company had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. Equities analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, July 18th. This represents a $3.12 annualized dividend and a yield of 2.76%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is currently 2,080.00%.
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Several equities research analysts have commented on CAT shares. TheStreet upgraded shares of Caterpillar from a “c+” rating to a “b” rating in a research note on Tuesday, July 25th. Deutsche Bank AG reiterated a “buy” rating and set a $118.00 price objective (up previously from $105.00) on shares of Caterpillar in a research note on Saturday, April 29th. Bank of America Corporation restated a “buy” rating and set a $120.00 target price on shares of Caterpillar in a report on Thursday, May 25th. Vetr raised shares of Caterpillar from a “sell” rating to a “buy” rating and set a $107.75 price objective for the company in a research note on Monday, May 8th. Finally, Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 price target on the stock in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $107.15.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by insiders.
Caterpillar Company Profile
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