Beach Investment Management LLC. Acquires New Position in Caterpillar, Inc. (CAT)
Beach Investment Management LLC. acquired a new position in Caterpillar, Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,150 shares of the industrial products company’s stock, valued at approximately $231,000.
Other large investors have also recently made changes to their positions in the company. Harbour Capital Advisors LLC bought a new position in Caterpillar in the first quarter worth approximately $107,000. First Personal Financial Services grew its stake in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 750 shares in the last quarter. Harfst & Associates Inc. bought a new position in Caterpillar in the first quarter worth approximately $111,000. Chicago Partners Investment Group LLC grew its stake in Caterpillar by 75.6% in the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 496 shares in the last quarter. Finally, Reilly Financial Advisors LLC grew its stake in Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 535 shares in the last quarter. 69.23% of the stock is currently owned by institutional investors.
Caterpillar, Inc. (NYSE CAT) opened at 131.36 on Monday. The stock has a market cap of $77.63 billion, a price-to-earnings ratio of 733.85 and a beta of 1.26. The company has a 50-day moving average price of $124.78 and a 200-day moving average price of $110.67. Caterpillar, Inc. has a 52 week low of $80.33 and a 52 week high of $132.12.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the company earned $1.09 earnings per share. Caterpillar’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar, Inc. will post $5.29 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.38%. Caterpillar’s dividend payout ratio (DPR) is presently 2,080.00%.
Several research analysts recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and issued a $150.00 price objective on shares of Caterpillar in a research note on Friday. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective on the stock in a research note on Thursday. Credit Suisse Group reissued an “outperform” rating and issued a $146.00 price objective (up previously from $133.00) on shares of Caterpillar in a research note on Wednesday, October 18th. Wells Fargo & Company set a $150.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Finally, Citigroup Inc. increased their price objective on Caterpillar from $125.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $119.82.
In other news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.14% of the stock is owned by corporate insiders.
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Caterpillar Company Profile
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