Private Wealth Advisors Inc. raised its position in shares of Caterpillar, Inc. (NYSE:CAT) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 6,874 shares of the company’s stock after buying an additional 150 shares during the period. Private Wealth Advisors Inc.’s holdings in Caterpillar were worth $610,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in CAT. Capital Research Global Investors raised its stake in Caterpillar by 1.3% in the second quarter. Capital Research Global Investors now owns 16,596,856 shares of the company’s stock worth $1,258,208,000 after buying an additional 218,191 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Caterpillar by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 14,917,467 shares of the company’s stock worth $1,324,224,000 after buying an additional 184,591 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Caterpillar by 4.1% in the third quarter. BlackRock Fund Advisors now owns 10,544,280 shares of the company’s stock worth $936,016,000 after buying an additional 414,976 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Caterpillar by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 9,567,876 shares of the company’s stock worth $849,341,000 after buying an additional 164,022 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock worth $659,404,000 after buying an additional 6,557,618 shares in the last quarter. 69.03% of the stock is currently owned by hedge funds and other institutional investors.
Caterpillar, Inc. (NYSE:CAT) traded up 0.57% on Wednesday, reaching $93.33. The company’s stock had a trading volume of 3,425,712 shares. The stock’s 50 day moving average price is $94.29 and its 200 day moving average price is $86.81. Caterpillar, Inc. has a 12 month low of $57.46 and a 12 month high of $97.40. The company has a market cap of $54.60 billion, a P/E ratio of 90.79 and a beta of 1.36.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. Caterpillar had a return on equity of 12.79% and a net margin of 2.54%. The firm earned $9.16 billion during the quarter, compared to analysts’ expectations of $9.91 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The company’s quarterly revenue was down 16.4% on a year-over-year basis. Equities research analysts forecast that Caterpillar, Inc. will post $3.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, February 18th. Stockholders of record on Friday, January 20th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Wednesday, January 18th. Caterpillar’s payout ratio is 179.07%.
A number of analysts have commented on the company. Deutsche Bank AG reiterated a “buy” rating and issued a $102.00 price objective on shares of Caterpillar in a research report on Friday, December 2nd. Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $84.86 price objective for the company. in a research report on Thursday, November 24th. J P Morgan Chase & Co raised their price objective on Caterpillar from $78.00 to $89.00 and gave the stock a “neutral” rating in a research report on Monday, December 5th. Jefferies Group reiterated a “hold” rating and issued a $80.00 price objective on shares of Caterpillar in a research report on Wednesday, December 21st. Finally, CLSA reiterated an “outperform” rating on shares of Caterpillar in a research report on Tuesday, January 10th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.78.
In other news, Director Daniel M. Dickinson sold 950 shares of the stock in a transaction 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 transaction, the director now directly owns 17,476 shares in the company, valued at approximately $1,634,355.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by insiders.
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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