Coastline Trust Co Has $1.28 Million Position in Caterpillar Inc. (NYSE:CAT)
Coastline Trust Co lowered its stake in Caterpillar Inc. (NYSE:CAT) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,590 shares of the industrial products company’s stock after selling 495 shares during the period. Coastline Trust Co’s holdings in Caterpillar were worth $1,281,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of CAT. Public Employees Retirement Association of Colorado increased its holdings in shares of Caterpillar by 3.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 104,786 shares of the industrial products company’s stock valued at $12,159,000 after purchasing an additional 3,189 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of Caterpillar by 34.5% in the first quarter. APG Asset Management N.V. now owns 955,153 shares of the industrial products company’s stock valued at $110,836,000 after purchasing an additional 244,949 shares in the last quarter. CIBC World Markets Inc. increased its holdings in shares of Caterpillar by 0.7% in the first quarter. CIBC World Markets Inc. now owns 76,009 shares of the industrial products company’s stock valued at $8,820,000 after purchasing an additional 563 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Caterpillar by 0.9% in the first quarter. Schroder Investment Management Group now owns 292,264 shares of the industrial products company’s stock valued at $35,196,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Caterpillar by 45.3% in the first quarter. Invesco Ltd. now owns 3,435,542 shares of the industrial products company’s stock valued at $398,662,000 after acquiring an additional 1,071,048 shares during the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Caterpillar from $111.00 to $120.00 and gave the company an “underweight” rating in a research note on Monday, October 12th. Cfra raised shares of Caterpillar to a “buy” rating in a research note on Thursday, July 16th. Sanford C. Bernstein assumed coverage on shares of Caterpillar in a research note on Tuesday, September 22nd. They issued a “market perform” rating on the stock. Bank of America raised shares of Caterpillar from an “underperform” rating to a “neutral” rating and set a $135.00 price objective on the stock in a research note on Wednesday, July 8th. Finally, Credit Suisse Group raised their price objective on shares of Caterpillar from $159.00 to $179.00 and gave the company an “outperform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $145.37.
Shares of NYSE:CAT opened at $168.75 on Friday. Caterpillar Inc. has a 12 month low of $87.50 and a 12 month high of $170.51. The company has a quick ratio of 1.05, a current ratio of 1.50 and a debt-to-equity ratio of 1.95. The company’s fifty day simple moving average is $150.71 and its 200 day simple moving average is $131.34. The firm has a market cap of $91.38 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.59 and a beta of 1.05.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.37. Caterpillar had a net margin of 8.90% and a return on equity of 30.52%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period last year, the business posted $2.83 earnings per share. The firm’s quarterly revenue was down 30.7% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 5.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Monday, October 26th will be paid a $1.03 dividend. The ex-dividend date is Friday, October 23rd. This represents a $4.12 annualized dividend and a yield of 2.44%. Caterpillar’s payout ratio is currently 37.25%.
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.
Featured Story: How to calculate compound interest
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.