Camelot Portfolios LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 46.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,901 shares of the industrial products company’s stock after selling 2,528 shares during the quarter. Camelot Portfolios LLC’s holdings in Caterpillar were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC increased its holdings in shares of Caterpillar by 23.5% in the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 72 shares during the period. First Merchants Corp increased its holdings in shares of Caterpillar by 0.4% in the second quarter. First Merchants Corp now owns 20,577 shares of the industrial products company’s stock valued at $2,804,000 after purchasing an additional 75 shares during the period. LexAurum Advisors LLC boosted its stake in shares of Caterpillar by 4.7% in the second quarter. LexAurum Advisors LLC now owns 1,700 shares of the industrial products company’s stock valued at $232,000 after buying an additional 77 shares in the last quarter. Claro Advisors LLC boosted its stake in shares of Caterpillar by 3.5% in the second quarter. Claro Advisors LLC now owns 2,341 shares of the industrial products company’s stock valued at $319,000 after buying an additional 79 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its stake in shares of Caterpillar by 1.1% in the second quarter. Financial Advocates Investment Management now owns 7,484 shares of the industrial products company’s stock valued at $1,020,000 after buying an additional 82 shares in the last quarter. 64.96% of the stock is currently owned by institutional investors.
CAT traded up $0.89 during trading on Wednesday, reaching $131.92. 201,765 shares of the stock were exchanged, compared to its average volume of 3,325,360. The business’s 50 day moving average price is $124.53 and its two-hundred day moving average price is $129.17. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. The company has a market capitalization of $72.24 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 0.92 and a beta of 1.52. Caterpillar Inc. has a 1 year low of $111.75 and a 1 year high of $144.77.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a yield of 3.12%. Caterpillar’s payout ratio is 36.72%.
A number of analysts recently weighed in on the company. Cleveland Research restated a “hold” rating on shares of Caterpillar in a research note on Monday, September 30th. Buckingham Research downgraded Caterpillar from a “buy” rating to a “neutral” rating and decreased their price target for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. Wells Fargo & Co downgraded Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price target on the stock. in a research note on Wednesday, September 11th. Bank of America restated a “buy” rating and issued a $145.00 price target (down from $150.00) on shares of Caterpillar in a research note on Monday, September 9th. Finally, Robert W. Baird decreased their price target on Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and an average target price of $137.66.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $126.34, for a total transaction of $634,100.46. Following the sale, the general counsel now directly owns 12,569 shares in the company, valued at $1,587,967.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.
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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