Whittier Trust Co. Has $8.62 Million Position in Caterpillar, Inc. (CAT)
Whittier Trust Co. decreased its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 2.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,101 shares of the industrial products company’s stock after selling 1,631 shares during the quarter. Whittier Trust Co.’s holdings in Caterpillar were worth $8,617,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Beach Investment Management LLC. purchased a new position in Caterpillar during the second quarter worth approximately $231,000. NGAM Advisors L.P. lifted its position in Caterpillar by 2.9% during the second quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after buying an additional 2,286 shares in the last quarter. Bank of Nova Scotia lifted its position in Caterpillar by 527.0% during the first quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after buying an additional 164,989 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Caterpillar during the first quarter worth approximately $46,917,000. Finally, Edmond DE Rothschild Holding S.A. lifted its position in Caterpillar by 0.6% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 170,587 shares of the industrial products company’s stock worth $18,332,000 after buying an additional 1,072 shares in the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Caterpillar, Inc. (NYSE:CAT) opened at $136.13 on Friday. The stock has a market capitalization of $80,990.00, a PE ratio of 24.78, a PEG ratio of 2.08 and a beta of 1.29. Caterpillar, Inc. has a 1 year low of $90.34 and a 1 year high of $140.44. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. equities research analysts predict that Caterpillar, Inc. will post 6.4 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, October 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.29%. Caterpillar’s dividend payout ratio is currently 216.67%.
A number of equities analysts recently commented on CAT shares. BMO Capital Markets upgraded Caterpillar from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $110.00 to $125.00 in a research report on Monday, July 24th. BidaskClub downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Wells Fargo & Company restated an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Credit Suisse Group restated an “outperform” rating and issued a $133.00 target price (up previously from $123.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Finally, Axiom Securities restated a “sell” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Caterpillar has a consensus rating of “Hold” and an average target price of $133.92.
In other news, insider Lange Bob De sold 1,572 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the transaction, the insider now directly owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 3,813 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the transaction, the director now directly owns 6,554 shares of the company’s stock, valued at $898,487.86. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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