Oak Grove Capital LLC Sells 500 Shares of Caterpillar Inc. (NYSE:CAT)

Oak Grove Capital LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CATGet Rating) by 35.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 900 shares of the industrial products company’s stock after selling 500 shares during the quarter. Oak Grove Capital LLC’s holdings in Caterpillar were worth $201,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CAT. Crewe Advisors LLC increased its stake in Caterpillar by 322.6% during the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Nauset Wealth Management. LLC purchased a new position in shares of Caterpillar during the first quarter valued at approximately $29,000. Arcadia Investment Management Corp MI purchased a new position in shares of Caterpillar during the first quarter valued at approximately $33,000. Sierra Capital LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $38,000. Finally, IMA Wealth Inc. purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $41,000. 67.44% of the stock is owned by institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $2.64 during mid-day trading on Wednesday, hitting $194.88. The stock had a trading volume of 37,677 shares, compared to its average volume of 2,770,444. Caterpillar Inc. has a twelve month low of $167.08 and a twelve month high of $237.90. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.90 and a current ratio of 1.45. The firm has a market cap of $102.88 billion, a PE ratio of 15.65, a PEG ratio of 1.29 and a beta of 1.01. The company has a 50 day moving average of $187.73 and a two-hundred day moving average of $202.81.

Caterpillar (NYSE:CATGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, beating the consensus estimate of $3.01 by $0.17. Caterpillar had a net margin of 12.50% and a return on equity of 37.29%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 12.69 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be paid a dividend of $1.20 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, July 19th. Caterpillar’s dividend payout ratio is presently 38.40%.

Analysts Set New Price Targets

CAT has been the subject of several recent analyst reports. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft lowered their price target on Caterpillar from $240.00 to $227.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Cowen lowered their price target on Caterpillar from $255.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, July 7th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Caterpillar in a report on Thursday, May 19th. Finally, Citigroup boosted their price target on Caterpillar to $195.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.

Caterpillar Profile

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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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