Capital Innovations LLC Grows Holdings in Caterpillar Inc. (CAT)
Capital Innovations LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 94.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,840 shares of the industrial products company’s stock after purchasing an additional 2,840 shares during the period. Caterpillar accounts for approximately 2.1% of Capital Innovations LLC’s holdings, making the stock its 17th biggest holding. Capital Innovations LLC’s holdings in Caterpillar were worth $920,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Beach Investment Management LLC. acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $231,000. IFM Investors Pty Ltd acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $1,759,000. Gareth Morgan Investments Limited Partnership acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $1,994,000. Eaton Vance Management raised its position in shares of Caterpillar by 13.3% in the 2nd quarter. Eaton Vance Management now owns 1,945,586 shares of the industrial products company’s stock valued at $209,073,000 after acquiring an additional 227,647 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $2,383,000. Institutional investors own 69.27% of the company’s stock.
In related news, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Suzette M. Long sold 528 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the transaction, the general counsel now directly owns 19,646 shares of the company’s stock, valued at $3,152,397.16. The disclosure for this sale can be found here. Insiders have sold a total of 143,331 shares of company stock valued at $22,107,578 over the last ninety days. Company insiders own 0.14% of the company’s stock.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.39. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS. equities research analysts predict that Caterpillar Inc. will post 9.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a dividend yield of 2.03%. Caterpillar’s dividend payout ratio is currently 247.62%.
A number of analysts recently weighed in on the stock. Vetr downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating and set a $166.15 price target on the stock. in a research report on Tuesday. Barclays assumed coverage on shares of Caterpillar in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $162.00 price target on the stock. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Deutsche Bank set a $149.00 price target on shares of Caterpillar and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Citigroup reiterated a “neutral” rating and issued a $185.00 price target (up from $160.00) on shares of Caterpillar in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $167.60.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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