Great Valley Advisor Group Inc. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 175.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,847 shares of the industrial products company’s stock after buying an additional 9,451 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Caterpillar were worth $3,443,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Alliance lifted its position in Caterpillar by 31.9% during the third quarter. Wealth Alliance now owns 3,099 shares of the industrial products company’s stock valued at $462,000 after purchasing an additional 750 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Caterpillar by 4.4% in the 3rd quarter. IHT Wealth Management LLC now owns 4,558 shares of the industrial products company’s stock valued at $680,000 after acquiring an additional 192 shares during the last quarter. Chiron Capital Management LLC bought a new position in shares of Caterpillar in the 3rd quarter valued at about $116,000. Jeppson Wealth Management LLC bought a new position in shares of Caterpillar in the 3rd quarter valued at about $93,000. Finally, Paces Ferry Wealth Advisors LLC bought a new position in shares of Caterpillar in the 3rd quarter valued at about $165,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.
In other Caterpillar news, CAO Gary Michael Marvel sold 4,018 shares of the firm’s stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $190.76, for a total value of $766,473.68. Also, General Counsel Suzette M. Long sold 59,311 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $219.67, for a total transaction of $13,028,847.37. Following the completion of the sale, the general counsel now owns 33,320 shares of the company’s stock, valued at $7,319,404.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,080 shares of company stock valued at $32,650,920. 0.31% of the stock is owned by insiders.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 28th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.63. The company had revenue of $11.24 billion for the quarter, compared to analyst estimates of $11.24 billion. Caterpillar had a net margin of 7.60% and a return on equity of 25.24%. Caterpillar’s revenue was down 14.5% compared to the same quarter last year. During the same period last year, the company posted $2.63 earnings per share. On average, equities research analysts predict that Caterpillar Inc. will post 5.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Monday, April 26th will be paid a $1.03 dividend. The ex-dividend date is Friday, April 23rd. This represents a $4.12 annualized dividend and a yield of 1.78%. Caterpillar’s dividend payout ratio (DPR) is 37.25%.
A number of research analysts recently commented on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Caterpillar from $205.00 to $245.00 in a report on Tuesday, March 16th. Jefferies Financial Group increased their price target on shares of Caterpillar from $160.00 to $200.00 and gave the company a “hold” rating in a report on Friday, January 15th. Barclays increased their price objective on shares of Caterpillar from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, January 15th. Wolfe Research started coverage on shares of Caterpillar in a research report on Monday. They issued an “outperform” rating and a $265.00 price objective on the stock. Finally, Credit Suisse Group increased their price objective on shares of Caterpillar from $228.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, February 1st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $192.57.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, 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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