Burney Co. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 20.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,541 shares of the industrial products company’s stock after selling 3,752 shares during the period. Burney Co.’s holdings in Caterpillar were worth $2,143,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC bought a new stake in Caterpillar during the fourth quarter worth $113,000. Ballew Advisors Inc bought a new stake in Caterpillar during the first quarter worth $121,000. Harvest Fund Management Co. Ltd bought a new stake in Caterpillar during the fourth quarter worth $131,000. Clearbridge LLC bought a new stake in Caterpillar during the fourth quarter worth $140,000. Finally, Aevitas Wealth Management Inc. bought a new stake in Caterpillar during the fourth quarter worth $143,000. Hedge funds and other institutional investors own 69.57% of the company’s stock.
Caterpillar opened at $153.69 on Friday, according to MarketBeat.com. The firm has a market capitalization of $91.24 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.07 and a beta of 1.31. Caterpillar Inc. has a twelve month low of $152.50 and a twelve month high of $153.85. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.36 and a quick ratio of 0.96.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.71. The business had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.99 billion. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. Caterpillar’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. sell-side analysts anticipate that Caterpillar Inc. will post 10.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 19th. Investors of record on Monday, April 23rd will be issued a $0.78 dividend. The ex-dividend date is Friday, April 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.03%. Caterpillar’s payout ratio is 45.35%.
Several equities research analysts have weighed in on the company. ValuEngine upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Monday, April 9th. UBS upped their price target on shares of Caterpillar from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Citigroup reiterated a “neutral” rating and set a $185.00 price target (up from $160.00) on shares of Caterpillar in a report on Friday, January 19th. Finally, Argus upped their price target on shares of Caterpillar from $155.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, February 1st. One equities 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $172.55.
In related news, insider Thomas A. Pellette sold 54,481 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $150.17, for a total value of $8,181,411.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Calhoun acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was bought at an average price of $155.37 per share, with a total value of $776,850.00. Following the completion of the acquisition, the director now directly owns 19,579 shares of the company’s stock, valued at $3,041,989.23. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
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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