Kanawha Capital Management LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,657 shares of the company’s stock after selling 925 shares during the period. Kanawha Capital Management LLC’s holdings in Caterpillar were worth $2,703,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of CAT. Geode Capital Management LLC increased its position in Caterpillar by 1.9% in the first quarter. Geode Capital Management LLC now owns 4,756,532 shares of the company’s stock valued at $363,332,000 after buying an additional 86,689 shares in the last quarter. Parametric Risk Advisors LLC increased its position in Caterpillar by 3.4% in the first quarter. Parametric Risk Advisors LLC now owns 241,091 shares of the company’s stock valued at $18,453,000 after buying an additional 7,954 shares in the last quarter. Riverhead Capital Management LLC increased its position in Caterpillar by 28.0% in the first quarter. Riverhead Capital Management LLC now owns 192,667 shares of the company’s stock valued at $14,747,000 after buying an additional 42,172 shares in the last quarter. Crystal Rock Capital Management bought a new position in Caterpillar during the first quarter valued at approximately $1,829,000. Finally, Pictet Asset Management Ltd. increased its position in Caterpillar by 2.0% in the first quarter. Pictet Asset Management Ltd. now owns 305,113 shares of the company’s stock valued at $20,656,000 after buying an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 68.99% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) traded up 1.095% during trading on Wednesday, hitting $88.175. The company’s stock had a trading volume of 5,166,242 shares. Caterpillar Inc. has a 12 month low of $56.36 and a 12 month high of $89.87. The firm has a 50 day moving average of $84.61 and a 200 day moving average of $79.21. The firm has a market cap of $51.51 billion, a P/E ratio of 58.783 and a beta of 1.54.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the company posted $1.27 EPS. Equities research analysts predict that Caterpillar Inc. will post $3.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be given a dividend of $0.77 per share. The ex-dividend date is Thursday, October 20th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.53%. Caterpillar’s dividend payout ratio (DPR) is presently 165.59%.
Several equities analysts have commented on the stock. Jefferies Group reiterated a “hold” rating on shares of Caterpillar in a report on Wednesday, August 3rd. Citigroup Inc. upped their price objective on shares of Caterpillar from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Barclays PLC upped their price objective on shares of Caterpillar from $78.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, October 12th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Tuesday, August 30th. Finally, Vetr raised shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $79.15 target price for the company in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $76.48.
In related news, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the sale, the insider now owns 20,232 shares in the company, valued at approximately $1,673,793.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis A. Muilenburg bought 1,930 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average price of $82.75 per share, with a total value of $159,707.50. Following the transaction, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
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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