Campbell & CO Investment Adviser LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,711 shares of the industrial products company’s stock, valued at approximately $255,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Demars Financial Group LLC bought a new position in shares of Caterpillar during the second quarter valued at approximately $28,000. Jaffetilchin Investment Partners LLC purchased a new position in Caterpillar during the 2nd quarter valued at $30,000. Modus Advisors LLC bought a new position in Caterpillar in the 2nd quarter valued at $33,000. Gantzert Investment Co. LLC ADV increased its stake in Caterpillar by 128.2% in the second quarter. Gantzert Investment Co. LLC ADV now owns 267 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 150 shares during the period. Finally, Riggs Asset Managment Co. Inc. increased its stake in Caterpillar by 109.3% in the third quarter. Riggs Asset Managment Co. Inc. now owns 383 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 200 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.
In other news, insider Lange Bob De sold 1,575 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $147.00, for a total transaction of $231,525.00. Following the completion of the sale, the insider now owns 30,798 shares in the company, valued at approximately $4,527,306. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.37. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.40 billion. Caterpillar had a net margin of 8.90% and a return on equity of 30.52%. The company’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 EPS. On average, equities analysts predict that Caterpillar Inc. will post 5.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, October 26th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, October 23rd. Caterpillar’s payout ratio is presently 37.25%.
A number of research firms have recently commented on CAT. Oppenheimer began coverage on shares of Caterpillar in a report on Sunday, August 2nd. They issued a “hold” rating on the stock. Bank of America raised shares of Caterpillar from an “underperform” rating to a “neutral” rating and set a $135.00 target price on the stock in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Caterpillar from $162.00 to $171.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Sanford C. Bernstein initiated coverage on Caterpillar in a research note on Tuesday, September 22nd. They issued a “market perform” rating on the stock. Finally, Morgan Stanley lifted their target price on Caterpillar from $111.00 to $120.00 and gave the company an “underweight” rating in a research report on Monday, October 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $145.37.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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