Monte Financial Group LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 23.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,996 shares of the industrial products company’s stock after buying an additional 5,406 shares during the period. Caterpillar makes up approximately 2.9% of Monte Financial Group LLC’s investment portfolio, making the stock its 8th biggest holding. Monte Financial Group LLC’s holdings in Caterpillar were worth $3,536,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Tortoise Investment Management LLC lifted its stake in shares of Caterpillar by 3,600.0% during the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after buying an additional 180 shares during the period. Prestige Wealth Management Group LLC acquired a new stake in shares of Caterpillar during the second quarter worth $27,000. Private Ocean LLC lifted its stake in shares of Caterpillar by 62.9% during the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after buying an additional 100 shares during the period. G&S Capital LLC acquired a new stake in shares of Caterpillar during the third quarter worth $38,000. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Caterpillar during the second quarter worth $46,000. Institutional investors and hedge funds own 66.87% of the company’s stock.
In other Caterpillar news, insider Denise C. Johnson sold 14,777 shares of Caterpillar stock in a transaction on Monday, October 28th. The shares were sold at an average price of $140.00, for a total value of $2,068,780.00. Following the completion of the transaction, the insider now owns 26,464 shares of the company’s stock, valued at $3,704,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise C. Johnson sold 68,993 shares of Caterpillar stock in a transaction on Friday, November 1st. The shares were sold at an average price of $146.37, for a total transaction of $10,098,505.41. Insiders sold 95,141 shares of company stock valued at $13,717,142 in the last ninety days. 0.37% of the stock is owned by corporate insiders.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.16). Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The firm had revenue of $12.76 billion during the quarter, compared to analysts’ expectations of $13.49 billion. During the same period in the previous year, the firm posted $2.86 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Caterpillar Inc. will post 10.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a yield of 2.82%. Caterpillar’s payout ratio is 36.72%.
Several equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 14th. UBS Group decreased their target price on shares of Caterpillar to $110.00 and set a “sell” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Co downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price for the company. in a research report on Wednesday, September 11th. Robert W. Baird boosted their target price on shares of Caterpillar from $141.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Caterpillar has a consensus rating of “Hold” and an average price target of $138.76.
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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