Caterpillar Inc. (CAT) Stake Lowered by Prio Wealth Limited Partnership
Prio Wealth Limited Partnership reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,043 shares of the industrial products company’s stock after selling 553 shares during the period. Prio Wealth Limited Partnership’s holdings in Caterpillar were worth $6,644,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Loeb Partners Corp bought a new stake in shares of Caterpillar during the 4th quarter worth $25,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $26,000. Bartlett & Co. LLC lifted its holdings in shares of Caterpillar by 150.0% during the 4th quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Paragon Capital Management LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $40,000. Finally, PRW Wealth Management LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 67.63% of the company’s stock.
A number of analysts have recently issued reports on CAT shares. Bank of America set a $152.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a report on Tuesday, January 29th. UBS Group downgraded 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. Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $173.00 price objective on shares of Caterpillar in a report on Thursday, February 14th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $188.00 price target on shares of Caterpillar in a research note on Monday, January 28th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $145.39.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.84 by $0.10. The firm had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 12.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.36%. This is an increase from Caterpillar’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, July 19th. Caterpillar’s dividend payout ratio is 30.66%.
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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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