Ameriprise Financial Inc. cut its stake in Caterpillar Inc. (NYSE:CAT) by 7.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 438,769 shares of the company’s stock after selling 35,767 shares during the period. Ameriprise Financial Inc.’s holdings in Caterpillar were worth $38,947,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CAT. Enterprise Financial Services Corp boosted its position in shares of 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 position in shares of 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. Quadrant Capital Group LLC boosted its position in shares of 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. Pittenger & Anderson Inc. boosted its position in shares of Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of 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. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Shares of Caterpillar Inc. (NYSE:CAT) traded down 0.26% during mid-day trading on Wednesday, reaching $94.30. The company had a trading volume of 292,121 shares. Caterpillar Inc. has a 1-year low of $56.36 and a 1-year high of $97.40. The stock’s 50-day moving average price is $94.07 and its 200 day moving average price is $84.91. The company has a market capitalization of $55.17 billion, a PE ratio of 91.73 and a beta of 1.37.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company earned $9.16 billion during the quarter, compared to the consensus estimate of $9.91 billion. During the same period in the previous year, the company posted $0.75 earnings per share. Caterpillar’s revenue for the quarter was down 16.4% on a year-over-year basis. Equities 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. Shareholders of record on Friday, January 20th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Wednesday, January 18th. Caterpillar’s payout ratio is presently 179.07%.
Several equities analysts have recently weighed in on the stock. Credit Suisse Group AG set a $101.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research note on Saturday, November 19th. Vetr upgraded shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $90.02 price objective on the stock in a research note on Thursday, December 22nd. Barclays PLC increased their price objective on shares of Caterpillar from $78.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 12th. Morgan Stanley restated an “equal weight” rating and set a $80.00 target price on shares of Caterpillar in a research note on Wednesday, October 26th. Finally, Jefferies Group restated a “hold” rating and set a $80.00 target price on shares of Caterpillar in a research note on Wednesday, December 21st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average 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 transaction of $88,844.00. Following the completion of the transaction, the director now directly owns 17,476 shares of the company’s stock, valued at approximately $1,634,355.52. The sale was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is owned by company 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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