Glenmede Trust Co. NA lessened its holdings in Caterpillar Inc. (NYSE:CAT – Get Rating) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,691 shares of the industrial products company’s stock after selling 3,625 shares during the quarter. Glenmede Trust Co. NA’s holdings in Caterpillar were worth $15,864,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Curi Wealth Management LLC grew its stake in shares of Caterpillar by 289.7% during the 2nd quarter. Curi Wealth Management LLC now owns 152 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 113 shares during the period. Castle Wealth Management LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $33,000. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Caterpillar during the 3rd quarter worth approximately $33,000. Cowa LLC acquired a new stake in shares of Caterpillar during the 3rd quarter worth approximately $33,000. Finally, Investors Research Corp acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 68.02% of the company’s stock.
Analyst Upgrades and Downgrades
CAT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, October 6th. Tigress Financial dropped their price target on shares of Caterpillar from $282.00 to $266.00 and set a “buy” rating on the stock in a research note on Friday, September 30th. Bank of America raised shares of Caterpillar from a “neutral” rating to a “buy” rating and lifted their price target for the company from $217.00 to $295.00 in a research note on Friday, January 13th. Credit Suisse Group lifted their price target on shares of Caterpillar from $236.00 to $255.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. Finally, StockNews.com initiated coverage on shares of Caterpillar in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.00.
Insider Transactions at Caterpillar
Caterpillar Trading Down 0.5 %
CAT traded down $1.40 on Wednesday, hitting $256.21. The company had a trading volume of 638,210 shares, compared to its average volume of 3,074,076. The firm has a market cap of $133.33 billion, a P/E ratio of 18.61, a PEG ratio of 1.38 and a beta of 1.11. Caterpillar Inc. has a 1 year low of $160.60 and a 1 year high of $260.50. The company’s fifty day moving average price is $239.91 and its 200 day moving average price is $207.21. The company has a current ratio of 1.41, a quick ratio of 0.85 and a debt-to-equity ratio of 1.63.
Caterpillar (NYSE:CAT – Get Rating) last released its earnings results on Thursday, October 27th. The industrial products company reported $3.95 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.76. The company had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $14.34 billion. Caterpillar had a return on equity of 41.76% and a net margin of 13.02%. As a group, equities analysts expect that Caterpillar Inc. will post 13.85 earnings per share for the current year.
Caterpillar Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Friday, January 20th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, January 19th. Caterpillar’s dividend payout ratio is presently 34.86%.
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.
- Get a free copy of the StockNews.com research report on Caterpillar (CAT)
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