Wealthfront Inc. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,804 shares of the industrial products company’s stock after purchasing an additional 2,371 shares during the quarter. Wealthfront Inc.’s holdings in Caterpillar were worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Quadrant Capital Group LLC lifted its stake in Caterpillar by 10.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 128 shares in the last quarter. Acrospire Investment Management LLC lifted its stake in Caterpillar by 900.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 900 shares in the last quarter. Gradient Investments LLC acquired a new position in Caterpillar during the 4th quarter worth about $113,000. Harvest Fund Management Co. Ltd acquired a new position in Caterpillar during the 4th quarter worth about $131,000. Finally, Massey Quick Simon & CO. LLC lifted its stake in Caterpillar by 4,240.7% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 1,145 shares in the last quarter. Institutional investors and hedge funds own 68.70% of the company’s stock.
CAT has been the topic of several research reports. Barclays set a $180.00 target price on Caterpillar and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Bank of America increased their price target on Caterpillar from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Wells Fargo & Co increased their price target on Caterpillar from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Vetr raised Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price target on the stock in a research report on Monday, January 15th. Finally, BMO Capital Markets increased their price target on Caterpillar from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $167.60.
Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. During the same quarter last year, the company earned $0.83 EPS. The business’s quarterly revenue was up 34.7% on a year-over-year basis. research analysts forecast that Caterpillar Inc. will post 9.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is presently 247.62%.
In other news, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the sale, the general counsel now owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jananne A. Copeland sold 3,247 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $136.95, for a total value of $444,676.65. Following the sale, the insider now directly owns 8,908 shares in the company, valued at approximately $1,219,950.60. The disclosure for this sale can be found here. Insiders have sold a total of 101,574 shares of company stock worth $16,413,346 in the last three months. Corporate insiders own 0.14% of the company’s stock.
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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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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