Gofen & Glossberg LLC IL reduced its position in Caterpillar Inc. (NYSE:CAT) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,833 shares of the industrial products company’s stock after selling 1,866 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Caterpillar were worth $8,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Sound Income Strategies LLC raised its stake in Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 72 shares in the last quarter. First Merchants Corp raised its stake in Caterpillar by 0.4% during the second quarter. First Merchants Corp now owns 20,577 shares of the industrial products company’s stock valued at $2,804,000 after purchasing an additional 75 shares in the last quarter. LexAurum Advisors LLC raised its stake in Caterpillar by 4.7% during the second quarter. LexAurum Advisors LLC now owns 1,700 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 77 shares in the last quarter. Claro Advisors LLC raised its stake in Caterpillar by 3.5% during the second quarter. Claro Advisors LLC now owns 2,341 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 79 shares in the last quarter. Finally, Financial Advocates Investment Management raised its stake in Caterpillar by 1.1% during the second quarter. Financial Advocates Investment Management now owns 7,484 shares of the industrial products company’s stock valued at $1,020,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.
CAT stock opened at $126.55 on Friday. The company has a market capitalization of $66.37 billion, a PE ratio of 11.28, a P/E/G ratio of 0.84 and a beta of 1.52. Caterpillar Inc. has a 12 month low of $111.75 and a 12 month high of $145.89. The firm’s 50-day moving average is $123.20 and its 200 day moving average is $129.21. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.12 by ($0.29). The company had revenue of $14.43 billion during the quarter, compared to analysts’ expectations of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.97 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 11.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio is presently 36.72%.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $126.34, for a total transaction of $634,100.46. Following the transaction, the general counsel now directly owns 12,569 shares in the company, valued at approximately $1,587,967.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.
CAT has been the topic of a number of recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $149.00 price target (down previously from $165.00) on shares of Caterpillar in a research note on Friday. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 14th. Morgan Stanley reduced their target price on shares of Caterpillar from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Goldman Sachs Group downgraded shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their target price for the company from $156.00 to $130.00 in a research note on Wednesday, August 7th. Finally, Bank of America reissued a “buy” rating and issued a $145.00 target price (down previously from $150.00) on shares of Caterpillar in a research note on Monday, September 9th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $137.66.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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