Hodges Capital Management Inc. Grows Position in Caterpillar Inc. (CAT)
Hodges Capital Management Inc. lifted its stake in Caterpillar Inc. (NYSE:CAT) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,308 shares of the industrial products company’s stock after buying an additional 1,691 shares during the period. Hodges Capital Management Inc.’s holdings in Caterpillar were worth $2,210,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Loeb Partners Corp acquired a new stake in shares of Caterpillar during the fourth quarter worth approximately $25,000. Clarfeld Financial Advisors LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth approximately $26,000. Bartlett & Co. LLC increased its holdings in shares of Caterpillar by 150.0% during the fourth quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Paragon Capital Management LLC acquired a new stake in shares of Caterpillar during the first quarter worth approximately $40,000. Finally, PRW Wealth Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 67.07% of the company’s stock.
CAT opened at $143.36 on Friday. Caterpillar Inc. has a one year low of $112.06 and a one year high of $161.60. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.78. The company has a market cap of $82.15 billion, a PE ratio of 12.78, a P/E/G ratio of 0.74 and a beta of 1.46.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.86 per share. The ex-dividend date is Thursday, April 18th. This represents a $3.44 annualized dividend and a dividend yield of 2.40%. Caterpillar’s dividend payout ratio (DPR) is currently 30.66%.
Several analysts have recently weighed in on the stock. UBS Group lowered shares of Caterpillar from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $154.00 to $125.00 in a report on Tuesday, February 26th. Bank of America set a $152.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a report on Thursday, April 4th. Deutsche Bank lowered shares of Caterpillar from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $152.00 to $128.00 in a report on Wednesday, April 3rd. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a report on Tuesday, April 2nd. Finally, Morgan Stanley set a $165.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $146.71.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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