Cullinan Associates Inc. Purchases 1,000 Shares of Caterpillar, Inc. (CAT)
Cullinan Associates Inc. boosted its position in Caterpillar, Inc. (NYSE:CAT) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,130 shares of the industrial products company’s stock after purchasing an additional 1,000 shares during the quarter. Cullinan Associates Inc.’s holdings in Caterpillar were worth $2,378,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CAT. Harbour Capital Advisors LLC bought a new stake in Caterpillar in the 1st quarter valued at about $107,000. First Personal Financial Services lifted its position in Caterpillar by 167.4% in the 1st quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 750 shares during the last quarter. Harfst & Associates Inc. bought a new stake in Caterpillar in the 1st quarter valued at about $111,000. Financial Architects Inc lifted its position in Caterpillar by 5.7% in the 1st quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 65 shares during the last quarter. Finally, Advantage Investment Management LLC lifted its position in Caterpillar by 32.0% in the 1st quarter. Advantage Investment Management LLC now owns 1,786 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 69.23% of the company’s stock.
CAT has been the topic of several recent research reports. Bank of America Corporation upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $120.00 in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a research report on Tuesday, August 29th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Monday, May 15th. Deutsche Bank AG downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and cut their price objective for the company from $121.00 to $106.00 in a research report on Friday, June 23rd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $133.00 price objective (up from $123.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $106.94.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the company’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 transaction, the insider now directly 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. Over the last three months, insiders have sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by company insiders.
Caterpillar, Inc. (CAT) traded down 0.43% on Wednesday, hitting $117.79. 1,364,069 shares of the stock traded hands. The company’s 50 day moving average price is $113.62 and its 200-day moving average price is $103.54. The stock has a market capitalization of $69.61 billion, a P/E ratio of 658.04 and a beta of 1.24. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $119.18.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the business earned $1.09 EPS. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts predict that Caterpillar, Inc. will post $5.24 EPS 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 paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.64%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Tuesday, July 18th. Caterpillar’s dividend payout ratio is presently 2,080.00%.
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