Palisade Asset Management LLC Acquires 450 Shares of Caterpillar, Inc. (CAT)
Palisade Asset Management LLC grew its holdings in Caterpillar, Inc. (NYSE:CAT) by 6.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,721 shares of the industrial products company’s stock after buying an additional 450 shares during the period. Palisade Asset Management LLC’s holdings in Caterpillar were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of CAT. Quadrant Capital Group LLC grew its holdings in shares of Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 128 shares during the period. Baker Ellis Asset Management LLC purchased a new stake in shares of Caterpillar in the second quarter valued at about $104,000. Motco grew its holdings in shares of Caterpillar by 264.9% in the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 718 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $107,000. Finally, Acrospire Investment Management LLC grew its holdings in shares of Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 69.19% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE CAT) opened at $138.01 on Thursday. The firm has a market cap of $81,862.88, a P/E ratio of 24.79, a P/E/G 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 quick ratio of 1.04, a current ratio of 1.44 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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. equities analysts forecast that Caterpillar, Inc. will post 6.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were issued a dividend of $0.78 per share. The ex-dividend date was Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.26%. Caterpillar’s payout ratio is currently 216.67%.
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A number of brokerages recently issued reports on CAT. Vetr raised shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective for the company in a report on Thursday, August 10th. Wells Fargo & Company reissued an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Citigroup Inc. upped their price objective on shares of Caterpillar from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a report on Monday, September 18th. Finally, Argus reissued a “buy” rating and issued a $113.10 price objective (down previously from $130.00) on shares of Caterpillar in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. Caterpillar currently has an average rating of “Hold” and an average target price of $133.92.
In other Caterpillar news, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the sale, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,932 shares of company stock worth $4,069,782. 0.14% of the stock is owned by corporate insiders.
Caterpillar Company Profile
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