Guardian Life Insurance Co. of America raised its stake in Caterpillar, Inc. (NYSE:CAT) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,265 shares of the industrial products company’s stock after buying an additional 24 shares during the period. Guardian Life Insurance Co. of America’s holdings in Caterpillar were worth $210,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Howe & Rusling Inc. increased its position in shares of Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares during the last quarter. First Personal Financial Services increased its position in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the last quarter. Financial Architects Inc increased 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 valued at $113,000 after buying an additional 65 shares during the last quarter. Ledyard National Bank increased its position in shares of Caterpillar by 145.7% in the first quarter. Ledyard National Bank now owns 1,425 shares of the industrial products company’s stock valued at $132,000 after buying an additional 845 shares during the last quarter. Finally, Advantage Investment Management LLC increased its position in shares of Caterpillar by 32.0% in the first quarter. Advantage Investment Management LLC now owns 1,786 shares of the industrial products company’s stock valued at $166,000 after buying an additional 433 shares during the last quarter. 70.27% of the stock is owned by institutional investors and hedge funds.
Caterpillar, Inc. (NYSE CAT) opened at 113.92 on Friday. The firm has a market cap of $67.32 billion, a price-to-earnings ratio of 636.42 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 company’s 50-day moving average price is $111.03 and its 200 day moving average price is $101.77.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be paid a dividend of $0.78 per share. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 annualized dividend and a yield of 2.74%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is presently 2,080.00%.
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Several research analysts have recently weighed in on the company. Credit Suisse Group reaffirmed a “buy” rating and set a $123.00 target price on shares of Caterpillar in a research note on Thursday, June 22nd. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price objective for the company. in a research note on Tuesday, April 25th. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, June 20th. Stifel Nicolaus reissued a “hold” rating and issued a $125.00 price objective on shares of Caterpillar in a research note on Sunday, July 30th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $110.00 price objective on shares of Caterpillar in a research note on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Caterpillar 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 company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were 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. Insiders have sold 201,471 shares of company stock worth $22,979,332 in the last 90 days. 0.15% of the stock is currently owned by insiders.
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