Xact Kapitalforvaltning AB Sells 894 Shares of Caterpillar, Inc. (CAT)
Xact Kapitalforvaltning AB lowered its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,245 shares of the industrial products company’s stock after selling 894 shares during the period. Xact Kapitalforvaltning AB’s holdings in Caterpillar were worth $4,969,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. City Holding Co. raised 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 worth $1,798,000 after buying an additional 1,305 shares in the last quarter. Diversified Trust Co raised 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 worth $258,000 after buying an additional 53 shares in the last quarter. V Wealth Management LLC raised its stake in 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 in the last quarter. Country Trust Bank raised its stake in Caterpillar by 2.4% in the first quarter. Country Trust Bank now owns 184,409 shares of the industrial products company’s stock worth $17,106,000 after buying an additional 4,278 shares in the last quarter. Finally, Nicolet Bankshares Inc. raised its stake in Caterpillar by 4.9% in the first quarter. Nicolet Bankshares Inc. now owns 3,855 shares of the industrial products company’s stock worth $358,000 after buying an additional 181 shares in the last quarter. 69.22% of the stock is owned by institutional investors and hedge funds.
Shares of Caterpillar, Inc. (CAT) traded up 0.83% during trading on Wednesday, hitting $116.97. 1,166,668 shares of the stock were exchanged. The firm’s 50-day moving average is $112.00 and its 200 day moving average is $102.51. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $117.00. The company has a market cap of $69.13 billion, a P/E ratio of 653.46 and a beta of 1.25.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. Equities analysts forecast that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The company 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. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. 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%. Caterpillar’s payout ratio is presently 2,080.00%.
Several research firms have weighed in on CAT. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price objective on the stock. in a research note on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “hold” rating on shares of Caterpillar in a research note on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a research note on Tuesday. BidaskClub upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Wells Fargo & Co reiterated an “outperform” rating on shares of Caterpillar in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $106.20.
In related news, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the sale, the insider now owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders sold a total of 201,471 shares of company stock valued at $22,979,332 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.
Caterpillar Company Profile
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