Caterpillar Inc. (CAT) Shares Sold by Claraphi Advisory Network LLC
Claraphi Advisory Network LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 25.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,271 shares of the industrial products company’s stock after selling 2,764 shares during the period. Caterpillar accounts for 0.7% of Claraphi Advisory Network LLC’s investment portfolio, making the stock its 29th biggest holding. Claraphi Advisory Network LLC’s holdings in Caterpillar were worth $1,261,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB grew its stake in shares of Caterpillar by 2.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock valued at $8,446,000 after purchasing an additional 1,367 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $1,333,000. GWM Advisors LLC grew its stake in shares of Caterpillar by 70.7% during the 2nd quarter. GWM Advisors LLC now owns 9,006 shares of the industrial products company’s stock valued at $1,227,000 after purchasing an additional 3,729 shares during the period. James Investment Research Inc. grew its stake in shares of Caterpillar by 6.8% during the 2nd quarter. James Investment Research Inc. now owns 14,165 shares of the industrial products company’s stock valued at $1,922,000 after purchasing an additional 905 shares during the period. Finally, Cornerstone Wealth Management LLC grew its stake in shares of Caterpillar by 13,856.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,253,525 shares of the industrial products company’s stock valued at $9,194,000 after purchasing an additional 1,244,543 shares during the period. Hedge funds and other institutional investors own 66.53% of the company’s stock.
In other Caterpillar news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the transaction, the insider now directly owns 22,826 shares in the company, valued at approximately $3,519,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De purchased 1,080 shares of the company’s stock in a transaction on Friday, October 26th. The stock was acquired at an average price of $115.58 per share, with a total value of $124,826.40. Following the completion of the purchase, the insider now directly owns 11,310 shares in the company, valued at $1,307,209.80. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The business had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $13.28 billion. During the same period in the prior year, the company posted $1.95 EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd will be paid a $0.86 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $3.44 annualized dividend and a yield of 2.65%. Caterpillar’s payout ratio is 50.00%.
A number of brokerages recently issued reports on CAT. UBS Group set a $160.00 price objective on Caterpillar and gave the company a “buy” rating in a research note on Thursday. ValuEngine upgraded Caterpillar from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Stifel Nicolaus cut their price objective on Caterpillar from $168.00 to $142.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Daiwa Capital Markets set a $120.00 price objective on Caterpillar and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, DZ Bank upgraded Caterpillar to a “hold” rating and cut their price objective for the company from $127.00 to $119.00 in a research note on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $158.55.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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