Brinker Capital Investments LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 45.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,353 shares of the industrial products company’s stock after selling 41,442 shares during the period. Brinker Capital Investments LLC’s holdings in Caterpillar were worth $11,444,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in CAT. Brand Asset Management Group Inc. acquired a new position in Caterpillar during the 1st quarter valued at about $26,000. IronBridge Private Wealth LLC acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $30,000. HBC Financial Services PLLC acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $31,000. Oder Investment Management LLC acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc grew its stake in shares of Caterpillar by 51.0% in the 1st quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 49 shares during the last quarter. 68.22% of the stock is currently owned by hedge funds and other institutional investors.
In other Caterpillar news, Director David Maclennan purchased 420 shares of the stock in a transaction on Wednesday, May 5th. The shares were purchased at an average price of $237.86 per share, with a total value of $99,901.20. Following the acquisition, the director now directly owns 890 shares of the company’s stock, valued at approximately $211,695.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph E. Creed sold 7,699 shares of the business’s stock in a transaction on Friday, June 4th. The shares were sold at an average price of $245.12, for a total transaction of $1,887,178.88. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.94. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Caterpillar’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that Caterpillar Inc. will post 9.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 20th. Shareholders of record on Tuesday, July 20th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.97%. The ex-dividend date is Monday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. Caterpillar’s payout ratio is 62.80%.
CAT has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Caterpillar from $168.00 to $181.00 and gave the stock an “underweight” rating in a report on Friday, April 30th. UBS Group raised their price target on shares of Caterpillar from $230.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, May 12th. Daiwa Capital Markets cut shares of Caterpillar from an “outperform” rating to a “neutral” rating in a report on Friday, March 5th. Citigroup lifted their target price on shares of Caterpillar from $205.00 to $245.00 in a research note on Tuesday, March 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $264.00 target price on shares of Caterpillar in a research note on Thursday, May 27th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Caterpillar currently has an average rating of “Hold” and a consensus price target of $219.29.
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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