Clear Harbor Asset Management LLC Has $3.65 Million Stake in Caterpillar, Inc. (CAT)
Clear Harbor Asset Management LLC increased its position in Caterpillar, Inc. (NYSE:CAT) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,472 shares of the industrial products company’s stock after buying an additional 725 shares during the period. Clear Harbor Asset Management LLC’s holdings in Caterpillar were worth $3,647,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in CAT. V Wealth Management LLC increased its position in shares of Caterpillar by 15.3% in the first quarter. V Wealth Management LLC now owns 5,108 shares of the industrial products company’s stock worth $474,000 after buying an additional 677 shares during the last quarter. Diversified Trust Co increased its stake in Caterpillar by 1.9% in the first quarter. Diversified Trust Co now owns 2,777 shares of the industrial products company’s stock valued at $258,000 after buying an additional 53 shares in the last quarter. City Holding Co. increased its stake in Caterpillar by 7.2% in the first quarter. City Holding Co. now owns 19,379 shares of the industrial products company’s stock valued at $1,798,000 after buying an additional 1,305 shares in the last quarter. Sabal Trust CO increased its stake in Caterpillar by 13.3% in the first quarter. Sabal Trust CO now owns 3,400 shares of the industrial products company’s stock valued at $315,000 after buying an additional 400 shares in the last quarter. Finally, Johanson Financial Advisors Inc. purchased a new stake in Caterpillar during the first quarter valued at about $210,000. Hedge funds and other institutional investors own 70.27% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE CAT) traded down 0.67% on Wednesday, hitting $115.04. The company had a trading volume of 1,220,975 shares. The company has a market cap of $67.99 billion, a price-to-earnings ratio of 642.68 and a beta of 1.25. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $115.46. The company has a 50 day moving average of $111.21 and a 200-day moving average of $102.01.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. On average, analysts forecast that Caterpillar, Inc. will post $5.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, August 19th. Investors of record on Thursday, July 20th were given a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 2.69%. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is 2,080.00%.
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CAT has been the subject of several analyst reports. Bank of America Corporation raised Caterpillar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $120.00 in a research note on Thursday, May 11th. Raymond James Financial, Inc. raised Caterpillar to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, April 27th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Friday, May 5th. Deutsche Bank AG cut Caterpillar from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $121.00 to $106.00 in a research report on Friday, June 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $133.00 price objective (up from $123.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Caterpillar currently has an average rating of “Hold” and an average target price of $107.15.
In other news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by insiders.
Caterpillar Company Profile
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