Caterpillar Inc. (CAT) Shares Sold by Private Advisor Group LLC
Private Advisor Group LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 43.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,421 shares of the industrial products company’s stock after selling 29,361 shares during the period. Private Advisor Group LLC’s holdings in Caterpillar were worth $6,359,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in Caterpillar by 10.6% in the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 128 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Caterpillar by 900.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares during the period. Gradient Investments LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at $113,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Caterpillar in the fourth quarter valued at $131,000. Finally, Massey Quick Simon & CO. LLC raised its stake in shares of Caterpillar by 4,240.7% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock valued at $146,000 after buying an additional 1,145 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the transaction, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jananne A. Copeland sold 3,247 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $136.95, for a total value of $444,676.65. Following the transaction, the insider now owns 8,908 shares of the company’s stock, valued at $1,219,950.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,331 shares of company stock valued at $22,107,578. 0.14% of the stock is owned by company insiders.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.01 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. research analysts anticipate that Caterpillar Inc. will post 9.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, January 19th. Caterpillar’s payout ratio is 247.62%.
Several analysts have issued reports on the company. Seaport Global Securities upgraded Caterpillar from a “neutral” rating to a “buy” rating and boosted their target price for the company from $170.90 to $195.00 in a research note on Tuesday, January 23rd. Vetr upgraded Caterpillar from a “sell” rating to a “hold” rating and set a $164.34 target price on the stock in a research note on Monday, January 22nd. Citigroup restated a “neutral” rating and issued a $185.00 target price (up from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. Barclays set a $180.00 target price on Caterpillar and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, Bank of America restated a “buy” rating and issued a $189.00 target price (up from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Caterpillar currently has an average rating of “Buy” and an average price target of $167.60.
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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