Markston International LLC decreased its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 41.0% during the third quarter, Holdings Channel reports. The firm owned 69,235 shares of the company’s stock after selling 48,051 shares during the period. Markston International LLC’s holdings in Caterpillar were worth $6,146,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake in Caterpillar by 5.3% in the third quarter. Quadrant Capital Group LLC now owns 1,282 shares of the company’s stock valued at $106,000 after buying an additional 65 shares during the period. Enterprise Financial Services Corp boosted its stake in Caterpillar by 7.0% in the third quarter. Enterprise Financial Services Corp now owns 1,204 shares of the company’s stock valued at $107,000 after buying an additional 79 shares during the period. Integrated Wealth Management boosted its stake in Caterpillar by 34.6% in the third quarter. Integrated Wealth Management now owns 1,246 shares of the company’s stock valued at $111,000 after buying an additional 320 shares during the period. Archford Capital Strategies LLC boosted its stake in Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock valued at $128,000 after buying an additional 1,581 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Caterpillar by 59.4% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,610 shares of the company’s stock valued at $143,000 after buying an additional 600 shares during the period. 70.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 98.99 on Friday. The company’s 50 day moving average is $94.34 and its 200 day moving average is $87.72. The company has a market cap of $57.92 billion, a P/E ratio of 96.29 and a beta of 1.36. Caterpillar, Inc. has a one year low of $59.80 and a one year high of $99.46.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 26th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.17. Caterpillar had a negative net margin of 0.17% and a positive return on equity of 12.92%. The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.87 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. On average, equities analysts predict that Caterpillar, Inc. will post $3.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 18th. Shareholders of record on Friday, January 20th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $3.08 annualized dividend and a yield of 3.11%. Caterpillar’s payout ratio is -2,369.23%.
Several analysts have recently commented on the stock. Barclays PLC increased their price target on shares of Caterpillar from $78.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 12th. Royal Bank Of Canada raised their price objective on shares of Caterpillar from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday. Vetr cut shares of Caterpillar from a “hold” rating to a “sell” rating and set a $82.00 price objective on the stock. in a research note on Tuesday, November 8th. Wells Fargo & Company raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research note on Friday. Finally, CLSA reaffirmed an “outperform” rating on shares of Caterpillar in a research note on Tuesday, January 10th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $84.95.
In other Caterpillar news, Director Daniel M. Dickinson sold 950 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $93.52, for a total transaction of $88,844.00. Following the transaction, the director now owns 17,476 shares in the company, valued at $1,634,355.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.
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.
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar, Inc. (NYSE:CAT).