Carnegie Capital Asset Management LLC Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Carnegie Capital Asset Management LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,159 shares of the industrial products company’s stock after selling 350 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Caterpillar were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CAT. Wealth Quarterback LLC bought a new stake in Caterpillar during the 4th quarter valued at $14,912,310,000. Norges Bank bought a new stake in Caterpillar during the 4th quarter valued at $754,296,000. FMR LLC raised its holdings in Caterpillar by 165.3% during the 4th quarter. FMR LLC now owns 3,768,557 shares of the industrial products company’s stock valued at $556,540,000 after acquiring an additional 2,347,888 shares during the period. American International Group Inc. raised its holdings in Caterpillar by 702.9% during the 4th quarter. American International Group Inc. now owns 2,510,280 shares of the industrial products company’s stock valued at $370,718,000 after acquiring an additional 2,197,615 shares during the period. Finally, Sanders Capital LLC raised its holdings in Caterpillar by 14.6% during the 4th quarter. Sanders Capital LLC now owns 7,156,246 shares of the industrial products company’s stock valued at $1,197,656,000 after acquiring an additional 909,436 shares during the period. Institutional investors and hedge funds own 64.31% of the company’s stock.

NYSE CAT opened at $112.47 on Friday. The company has a 50-day simple moving average of $114.00 and a two-hundred day simple moving average of $130.00. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 1.71. Caterpillar Inc. has a 12-month low of $87.50 and a 12-month high of $150.55. The firm has a market cap of $61.73 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.09). Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.98 billion. During the same quarter in the previous year, the company earned $2.94 earnings per share. The business’s quarterly revenue was down 21.0% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 4.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Monday, April 20th were given a dividend of $1.03 per share. The ex-dividend date was Friday, April 17th. This represents a $4.12 annualized dividend and a yield of 3.66%. Caterpillar’s payout ratio is 37.25%.

CAT has been the topic of several research analyst reports. Barclays reaffirmed a “hold” rating and issued a $140.00 price target on shares of Caterpillar in a report on Thursday, April 16th. Stifel Nicolaus raised shares of Caterpillar from a “hold” rating to a “buy” rating and decreased their price target for the stock from $140.00 to $137.00 in a report on Monday, March 16th. Credit Suisse Group decreased their price target on shares of Caterpillar from $162.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and set a $93.00 price target on the stock. in a report on Monday, April 27th. Finally, UBS Group upped their price target on shares of Caterpillar from $100.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $127.63.

Caterpillar Profile

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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