Glenview State Bank Trust DEPT. raised its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 52,895 shares of the company’s stock after buying an additional 725 shares during the period. Caterpillar comprises about 2.3% of Glenview State Bank Trust DEPT.’s investment portfolio, making the stock its 17th largest position. Glenview State Bank Trust DEPT.’s holdings in Caterpillar were worth $4,010,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Caterpillar during the second quarter worth approximately $56,681,000. State Farm Mutual Automobile Insurance Co. increased its stake in shares of Caterpillar by 1.1% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 21,017,733 shares of the company’s stock worth $1,608,697,000 after buying an additional 220,600 shares during the period. Primecap Management Co. CA increased its stake in shares of Caterpillar by 2.2% in the first quarter. Primecap Management Co. CA now owns 6,219,249 shares of the company’s stock worth $476,021,000 after buying an additional 135,248 shares during the period. Edgar Lomax Co. VA increased its stake in shares of Caterpillar by 30.6% in the first quarter. Edgar Lomax Co. VA now owns 535,350 shares of the company’s stock worth $40,976,000 after buying an additional 125,500 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Caterpillar by 62.9% in the first quarter. Canada Pension Plan Investment Board now owns 290,329 shares of the company’s stock worth $22,222,000 after buying an additional 112,100 shares during the period. Institutional investors and hedge funds own 69.03% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) traded up 0.80% on Friday, reaching $87.67. 3,601,023 shares of the company traded hands. The stock has a 50-day moving average price of $84.36 and a 200-day moving average price of $79.01. The firm has a market cap of $51.22 billion, a P/E ratio of 58.45 and a beta of 1.54. Caterpillar Inc. has a 52-week low of $56.36 and a 52-week high of $89.87.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The firm had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period last year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, November 19th. Shareholders of record on Monday, October 24th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 165.59%.
A number of brokerages have recently commented on CAT. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Thursday. Barclays PLC increased their price objective on Caterpillar from $78.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday. Vetr upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $96.01 price objective for the company in a research report on Wednesday. Jefferies Group increased their price objective on Caterpillar from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 11th. Finally, Goldman Sachs Group Inc. upgraded Caterpillar from a “neutral” rating to a “buy” rating and increased their price objective for the company from $76.00 to $112.00 in a research report on Tuesday, October 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.48.
In other Caterpillar news, Director Dennis A. Muilenburg acquired 1,930 shares of the company’s stock in a transaction on Friday, July 29th. The shares were purchased at an average cost of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the transaction, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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