Honkamp Krueger Financial Services Inc. Raises Position in Caterpillar, Inc. (CAT)
Honkamp Krueger Financial Services Inc. raised its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 44.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,333 shares of the industrial products company’s stock after buying an additional 4,406 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Caterpillar were worth $1,540,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CAT. FMR LLC boosted its holdings in Caterpillar by 11.4% during the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Caterpillar during the first quarter worth approximately $143,490,000. Morgan Stanley boosted its holdings in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Caterpillar by 3.6% during the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares in the last quarter. Finally, Cibc World Markets Corp boosted its holdings in Caterpillar by 507.9% during the first quarter. Cibc World Markets Corp now owns 1,276,465 shares of the industrial products company’s stock worth $118,405,000 after buying an additional 1,066,492 shares in the last quarter. Hedge funds and other institutional investors own 69.23% of the company’s stock.
Caterpillar, Inc. (NYSE CAT) opened at 117.82 on Monday. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $119.18. The company has a market cap of $69.63 billion, a P/E ratio of 658.21 and a beta of 1.24. The stock’s 50 day moving average is $114.48 and its 200-day moving average is $103.84.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Analysts predict that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is currently 2,080.00%.
In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the sale, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. In the last three months, insiders sold 201,471 shares of company stock worth $22,979,332. 0.15% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the stock. Wells Fargo & Company restated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Vetr upgraded shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 target price for the company in a report on Thursday, August 10th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a report on Tuesday, June 6th. Citigroup Inc. raised their target price on shares of Caterpillar from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $110.79.
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