Caterpillar Inc. (CAT) Shares Sold by Tarbox Group Inc.
Tarbox Group Inc. lowered its position in Caterpillar Inc. (NYSE:CAT) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 3,355 shares of the company’s stock after selling 72 shares during the period. Tarbox Group Inc.’s holdings in Caterpillar were worth $254,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Kelly Lawrence W & Associates Inc. CA raised its stake in shares of Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock worth $115,000 after buying an additional 200 shares in the last quarter. WealthTrust Arizona LLC raised its stake in shares of Caterpillar by 82.4% in the second quarter. WealthTrust Arizona LLC now owns 2,451 shares of the company’s stock worth $186,000 after buying an additional 1,107 shares in the last quarter. CWM LLC raised its stake in shares of Caterpillar by 197.2% in the second quarter. CWM LLC now owns 2,574 shares of the company’s stock worth $195,000 after buying an additional 1,708 shares in the last quarter. Telemus Capital LLC purchased a new stake in shares of Caterpillar during the second quarter worth $202,000. Finally, Cypress Capital Group purchased a new stake in shares of Caterpillar during the first quarter worth $207,000. Institutional investors and hedge funds own 68.99% of the company’s stock.
Shares of Caterpillar Inc. (NYSE:CAT) traded up 0.89% during trading on Wednesday, reaching $88.00. The company’s stock had a trading volume of 5,921,017 shares. The company has a market capitalization of $51.41 billion, a price-to-earnings ratio of 58.67 and a beta of 1.54. The firm’s 50-day moving average price is $84.61 and its 200-day moving average price is $79.21. Caterpillar Inc. has a one year low of $56.36 and a one year high of $89.87.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The business had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The business’s revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post $3.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, October 20th. This represents a $3.08 annualized dividend and a dividend yield of 3.53%. Caterpillar’s payout ratio is 165.59%.
CAT has been the topic of a number of analyst reports. TheStreet upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group AG reiterated a “buy” rating and issued a $87.00 price target on shares of Caterpillar in a research report on Wednesday, July 13th. Deutsche Bank AG initiated coverage on Caterpillar in a research report on Tuesday, September 6th. They issued a “buy” rating and a $72.56 price target on the stock. Vetr upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $85.19 price target on the stock in a research report on Tuesday, September 13th. Finally, Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $76.48.
In other Caterpillar news, Director Dennis A. Muilenburg bought 1,930 shares of the stock in a transaction dated Friday, July 29th. The stock was purchased at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the transaction, the insider now owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
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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