Vanguard Group Inc. Raises Stake in Caterpillar, Inc. (CAT)
Vanguard Group Inc. raised its position in Caterpillar, Inc. (NYSE:CAT) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,847,552 shares of the industrial products company’s stock after buying an additional 1,342,984 shares during the period. Vanguard Group Inc. owned 6.59% of Caterpillar worth $3,603,500,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Caterpillar by 51.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,705 shares of the industrial products company’s stock worth $1,271,000 after buying an additional 4,660 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Caterpillar during the first quarter worth approximately $52,496,000. Guardian Life Insurance Co. of America boosted its stake in Caterpillar by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,265 shares of the industrial products company’s stock worth $210,000 after buying an additional 24 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Caterpillar during the first quarter worth approximately $52,496,000. Finally, Global X Management Co. LLC boosted its stake in Caterpillar by 27.5% in the first quarter. Global X Management Co. LLC now owns 5,201 shares of the industrial products company’s stock worth $482,000 after buying an additional 1,121 shares during the last quarter. 70.53% of the stock is currently owned by institutional investors.
Caterpillar, Inc. (NYSE:CAT) traded down 0.016% on Tuesday, reaching $114.692. 172,995 shares of the company’s stock traded hands. Caterpillar, Inc. has a 52 week low of $79.93 and a 52 week high of $114.90. The firm has a 50-day moving average price of $107.94 and a 200-day moving average price of $100.19. The stock has a market capitalization of $67.69 billion, a price-to-earnings ratio of 640.737 and a beta of 1.25.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Caterpillar, Inc. will post $5.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, July 18th. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.72%. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
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CAT has been the topic of a number of recent analyst reports. Bank of America Corporation upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $105.00 to $120.00 in a research note on Thursday, May 11th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 target price on the stock in a research note on Thursday, April 27th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research note on Friday, May 5th. Deutsche Bank AG cut shares of Caterpillar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $121.00 to $106.00 in a research note on Friday, June 23rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $133.00 target price (up previously from $123.00) on shares of Caterpillar in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $106.56.
In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders sold a total of 201,471 shares of company stock valued at $22,979,332 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.
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