Caterpillar, Inc. (CAT) Position Lowered by Traynor Capital Management Inc.
Traynor Capital Management Inc. lessened its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 27.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,844 shares of the industrial products company’s stock after selling 709 shares during the quarter. Traynor Capital Management Inc.’s holdings in Caterpillar were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after purchasing an additional 2,377,623 shares in the last quarter. FMR LLC raised its holdings in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Morgan Stanley raised its holdings in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after purchasing an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA raised its holdings in Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after purchasing an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after purchasing an additional 419,191 shares in the last quarter. Institutional investors own 69.19% of the company’s stock.
Caterpillar, Inc. (CAT) opened at $138.01 on Friday. Caterpillar, Inc. has a 1-year low of $90.34 and a 1-year high of $140.44. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. The firm has a market capitalization of $82,106.79, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.09 and a beta of 1.29.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. Caterpillar’s revenue was up 24.6% on a year-over-year basis. equities research analysts forecast that Caterpillar, Inc. will post 6.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, October 20th. Caterpillar’s dividend payout ratio is 216.67%.
In other news, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the transaction, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel M. Dickinson sold 3,813 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the transaction, the director now directly owns 6,554 shares in the company, valued at approximately $898,487.86. The disclosure for this sale can be found here. Insiders sold 29,932 shares of company stock worth $4,069,782 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.
A number of equities research analysts have recently commented on CAT shares. BMO Capital Markets increased their target price on Caterpillar from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, September 14th. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 target price on the stock in a research note on Thursday, October 19th. Zacks Investment Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus reissued a “hold” rating and issued a $125.00 target price on shares of Caterpillar in a research note on Sunday, July 30th. Finally, Argus increased their target price on Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and a consensus price target of $133.92.
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Caterpillar Company Profile
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