Caterpillar Inc. (NYSE:CAT) Shares Acquired by Parallel Advisors LLC
Parallel Advisors LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 5.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,148 shares of the industrial products company’s stock after acquiring an additional 285 shares during the period. Parallel Advisors LLC’s holdings in Caterpillar were worth $650,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of CAT. Tortoise Investment Management LLC grew its stake in shares of Caterpillar by 3,600.0% in the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after buying an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in Caterpillar during the 2nd quarter worth $27,000. G&S Capital LLC acquired a new position in Caterpillar during the 3rd quarter worth $38,000. Kavar Capital Partners LLC acquired a new position in Caterpillar during the 2nd quarter worth $46,000. Finally, Garrett Wealth Advisory Group LLC acquired a new position in Caterpillar during the 3rd quarter worth $47,000. 65.74% of the stock is owned by institutional investors and hedge funds.
In other news, insider Denise C. Johnson sold 14,777 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $140.00, for a total value of $2,068,780.00. Following the completion of the sale, the insider now directly owns 26,464 shares of the company’s stock, valued at approximately $3,704,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise C. Johnson sold 68,993 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $146.37, for a total value of $10,098,505.41. Insiders have sold a total of 95,141 shares of company stock valued at $13,717,142 over the last ninety days. 0.37% of the stock is owned by company insiders.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.82 by ($0.16). The business had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $2.86 earnings per share. Research analysts forecast that Caterpillar Inc. will post 10.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio (DPR) is 36.72%.
Several research analysts recently commented on the company. Cleveland Research reissued a “hold” rating on shares of Caterpillar in a research note on Monday, September 30th. UBS Group lowered their target price on Caterpillar to $110.00 and set a “sell” rating for the company in a research note on Thursday, October 24th. Bank of America boosted their target price on Caterpillar from $154.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank boosted their target price on Caterpillar from $113.00 to $123.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, ValuEngine raised Caterpillar from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $137.23.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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