Tocqueville Asset Management L.P. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 27.6% during the third quarter, Holdings Channel reports. The firm owned 434,478 shares of the company’s stock after buying an additional 93,939 shares during the period. Tocqueville Asset Management L.P. owned about 0.07% of Caterpillar worth $38,569,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Green Square Capital LLC increased its position in Caterpillar by 1.6% in the second quarter. Green Square Capital LLC now owns 54,972 shares of the company’s stock worth $4,167,000 after buying an additional 852 shares in the last quarter. PGGM Investments increased its position in Caterpillar by 8.1% in the second quarter. PGGM Investments now owns 806,656 shares of the company’s stock worth $61,153,000 after buying an additional 60,615 shares in the last quarter. HL Financial Services LLC increased its position in Caterpillar by 7.4% in the second quarter. HL Financial Services LLC now owns 37,731 shares of the company’s stock worth $2,860,000 after buying an additional 2,585 shares in the last quarter. Pitcairn Co. increased its position in Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock worth $250,000 after buying an additional 14 shares in the last quarter. Finally, Princeton Capital Management Inc. increased its position in Caterpillar by 6.9% in the second quarter. Princeton Capital Management Inc. now owns 20,963 shares of the company’s stock worth $1,589,000 after buying an additional 1,352 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors.
Shares of Caterpillar Inc. (NYSE:CAT) opened at 93.33 on Thursday. The firm’s 50-day moving average price is $94.26 and its 200-day moving average price is $86.85. The company has a market capitalization of $54.60 billion, a price-to-earnings ratio of 90.79 and a beta of 1.36. Caterpillar Inc. has a 12 month low of $57.46 and a 12 month high of $97.40.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The business earned $9.16 billion during the quarter, compared to analyst estimates of $9.91 billion. Caterpillar had a return on equity of 12.79% and a net margin of 2.54%. The business’s revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Equities research analysts expect that Caterpillar Inc. will post $3.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, February 18th. Stockholders of record on Friday, January 20th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.30%. Caterpillar’s dividend payout ratio (DPR) is presently 179.07%.
CAT has been the topic of several recent research reports. Zacks Investment Research downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $82.00 price objective on the stock. in a research note on Monday, November 14th. Credit Suisse Group AG set a $90.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Barclays PLC reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of Caterpillar in a research note on Thursday, October 27th. Finally, Bank of America Corp. reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Caterpillar in a research note on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $80.78.
In other news, Director Daniel M. Dickinson sold 950 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $93.52, for a total value of $88,844.00. Following the completion of the sale, the director now directly owns 17,476 shares in the company, valued at $1,634,355.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by insiders.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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