Caterpillar, Inc. (CAT) Position Lifted by Fort Pitt Capital Group LLC
Fort Pitt Capital Group LLC lifted its position in shares of Caterpillar, Inc. (NYSE:CAT) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,923 shares of the industrial products company’s stock after purchasing an additional 569 shares during the period. Fort Pitt Capital Group LLC’s holdings in Caterpillar were worth $1,113,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beach Investment Management LLC. bought a new position in shares of Caterpillar during the second quarter valued at about $231,000. NGAM Advisors L.P. lifted its position in shares of Caterpillar by 2.9% during the second quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock valued at $8,742,000 after purchasing an additional 2,286 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Caterpillar by 527.0% during the first quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after purchasing an additional 164,989 shares in the last quarter. Wealthsource Partners LLC bought a new position in shares of Caterpillar during the second quarter valued at about $316,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Caterpillar during the first quarter valued at about $46,917,000. 69.19% of the stock is currently owned by institutional investors.
Shares of Caterpillar, Inc. (NYSE CAT) opened at $137.60 on Wednesday. Caterpillar, Inc. has a 12 month low of $90.34 and a 12 month high of $140.44. The stock has a market cap of $81,452.37, a price-to-earnings ratio of 24.67, a PEG ratio of 2.07 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. analysts forecast that Caterpillar, Inc. will post 6.4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 23rd were paid a $0.78 dividend. The ex-dividend date was Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.27%. Caterpillar’s dividend payout ratio (DPR) is 216.67%.
A number of research analysts recently weighed in on CAT shares. Wells Fargo & Company reissued an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $133.00 price objective (up previously from $123.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $120.00 price objective (up previously from $106.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $120.00 price objective (up previously from $100.00) 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 assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average 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 on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $135.69, for a total transaction of $3,330,782.43. The disclosure for this sale can be found here. Insiders sold a total of 29,932 shares of company stock valued at $4,069,782 in the last ninety days. 0.14% of the stock is owned by corporate insiders.
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Caterpillar Company Profile
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