Montag A & Associates Inc. Cuts Holdings in Caterpillar Inc. (CAT)
Montag A & Associates Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 48.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,761 shares of the industrial products company’s stock after selling 4,410 shares during the quarter. Montag A & Associates Inc.’s holdings in Caterpillar were worth $702,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Davis R M Inc. increased its holdings in shares of Caterpillar by 5.9% during the fourth quarter. Davis R M Inc. now owns 6,061 shares of the industrial products company’s stock worth $955,000 after purchasing an additional 337 shares during the period. Vicus Capital increased its holdings in shares of Caterpillar by 8.2% during the first quarter. Vicus Capital now owns 4,462 shares of the industrial products company’s stock worth $658,000 after purchasing an additional 338 shares during the period. Covington Capital Management increased its holdings in shares of Caterpillar by 14.5% during the fourth quarter. Covington Capital Management now owns 2,690 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 340 shares during the period. RiverPoint Capital Management LLC increased its holdings in shares of Caterpillar by 13.1% during the fourth quarter. RiverPoint Capital Management LLC now owns 2,980 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 344 shares during the period. Finally, Wade G W & Inc. increased its stake in Caterpillar by 12.4% in the first quarter. Wade G W & Inc. now owns 3,138 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 345 shares during the last quarter. 69.57% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the stock. Seaport Global Securities raised shares of Caterpillar from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $170.90 to $195.00 in a research note on Tuesday, January 23rd. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $164.34 price objective on the stock in a research note on Monday, January 22nd. Citigroup reissued a “neutral” rating and issued a $185.00 price objective (up from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. Barclays set a $180.00 price objective on shares of Caterpillar and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $169.37 price objective (down from $210.00) on shares of Caterpillar in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $172.55.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.71. The firm had revenue of $12.86 billion for the quarter, compared to analysts’ expectations of $11.99 billion. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The company’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. sell-side analysts predict that Caterpillar Inc. will post 10.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 19th. Stockholders of record on Monday, April 23rd will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, April 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.04%. Caterpillar’s dividend payout ratio (DPR) is presently 45.35%.
In other news, insider Thomas A. Pellette sold 54,481 shares of Caterpillar stock in a transaction on Monday, May 7th. The shares were sold at an average price of $150.17, for a total transaction of $8,181,411.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joseph E. Creed sold 4,532 shares of Caterpillar stock in a transaction on Friday, May 11th. The stock was sold at an average price of $155.67, for a total transaction of $705,496.44. Following the transaction, the chief financial officer now owns 2,554 shares in the company, valued at approximately $397,581.18. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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