Oregon Public Employees Retirement Fund reduced its stake in Caterpillar Inc. (NYSE:CAT) by 45.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,256 shares of the industrial products company’s stock after selling 59,298 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Caterpillar were worth $9,054,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Loeb Partners Corp bought a new stake in Caterpillar during the fourth quarter valued at about $25,000. Bartlett & Co. LLC raised its holdings in Caterpillar by 150.0% during the fourth quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Essex Investment Management Co. LLC bought a new stake in Caterpillar during the fourth quarter valued at about $55,000. Legacy Financial Advisors Inc. raised its holdings in Caterpillar by 145.4% during the fourth quarter. Legacy Financial Advisors Inc. now owns 481 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 285 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Caterpillar during the fourth quarter valued at about $69,000. 66.58% of the stock is currently owned by institutional investors.
CAT has been the topic of a number of recent analyst reports. Standpoint Research raised Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 price target on the stock in a report on Wednesday, December 26th. Bank of America raised their price target on Caterpillar from $140.00 to $163.00 and gave the company a “buy” rating in a report on Sunday, December 9th. Robert W. Baird set a $171.00 price target on Caterpillar and gave the company a “buy” rating in a report on Monday, December 3rd. UBS Group set a $160.00 price target on Caterpillar and gave the company a “buy” rating in a report on Thursday, November 15th. Finally, Zacks Investment Research raised Caterpillar from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a report on Thursday, January 24th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Caterpillar has a consensus rating of “Hold” and an average price target of $150.24.
Shares of Caterpillar stock opened at $137.34 on Friday. The stock has a market cap of $79.49 billion, a PE ratio of 12.24, a PEG ratio of 0.62 and a beta of 1.46. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 1.78. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $161.60.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, January 28th. The industrial products company reported $2.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.98 by ($0.43). The firm had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.36 billion. Caterpillar had a net margin of 11.23% and a return on equity of 45.31%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. Analysts anticipate that Caterpillar Inc. will post 12.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Stockholders of record on Tuesday, January 22nd were given a dividend of $0.86 per share. The ex-dividend date was Friday, January 18th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.50%. Caterpillar’s payout ratio is 30.66%.
Caterpillar Company Profile
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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