Clearbridge LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 888 shares of the industrial products company’s stock, valued at approximately $140,000.
A number of other hedge funds have also made changes to their positions in the stock. Prime Capital Investment Advisors LLC purchased a new stake in Caterpillar in the fourth quarter worth $347,000. Compton Capital Management Inc. RI purchased a new stake in Caterpillar in the fourth quarter worth $226,000. Granite Springs Asset Management LLC purchased a new stake in Caterpillar in the fourth quarter worth $556,000. Fred Alger Management Inc. purchased a new stake in Caterpillar in the fourth quarter worth $103,179,000. Finally, Folger Hill Asset Management LP lifted its stake in Caterpillar by 365.0% in the fourth quarter. Folger Hill Asset Management LP now owns 18,600 shares of the industrial products company’s stock worth $2,931,000 after acquiring an additional 14,600 shares during the period. 68.41% of the stock is owned by institutional investors.
In related news, General Counsel Suzette M. Long sold 528 shares of Caterpillar stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total value of $84,722.88. Following the completion of the sale, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas A. Pellette sold 95,199 shares of Caterpillar stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the completion of the sale, the insider now owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
Caterpillar Inc. (NYSE CAT) opened at $158.25 on Friday. Caterpillar Inc. has a twelve month low of $90.34 and a twelve month high of $173.24. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $94,574.31, a price-to-earnings ratio of 23.00, a PEG ratio of 1.45 and a beta of 1.23.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating 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 firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $12.01 billion. During the same period last year, the company earned $0.83 earnings per share. The company’s revenue was up 34.7% on a year-over-year basis. sell-side analysts anticipate that Caterpillar Inc. will post 9.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 1.97%. Caterpillar’s payout ratio is presently 247.62%.
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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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