US Bancorp DE grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 428,854 shares of the industrial products company’s stock after purchasing an additional 14,338 shares during the quarter. US Bancorp DE owned approximately 0.08% of Caterpillar worth $99,439,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of CAT. Price T Rowe Associates Inc. MD grew its holdings in shares of Caterpillar by 109.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,041,360 shares of the industrial products company’s stock worth $2,373,788,000 after buying an additional 6,803,900 shares during the last quarter. Norges Bank purchased a new position in shares of Caterpillar during the fourth quarter worth about $878,514,000. FMR LLC grew its holdings in shares of Caterpillar by 42.3% during the fourth quarter. FMR LLC now owns 6,019,787 shares of the industrial products company’s stock worth $1,095,721,000 after buying an additional 1,788,783 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Caterpillar by 23.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,444,897 shares of the industrial products company’s stock worth $627,039,000 after buying an additional 665,237 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Caterpillar by 11.9% during the fourth quarter. Morgan Stanley now owns 4,867,473 shares of the industrial products company’s stock worth $885,977,000 after buying an additional 519,151 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors.
Shares of NYSE:CAT traded down $0.53 during midday trading on Tuesday, hitting $227.64. 41,539 shares of the company’s stock traded hands, compared to its average volume of 3,226,169. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.08 and a current ratio of 1.54. The company has a market cap of $124.13 billion, a PE ratio of 37.97, a P/E/G ratio of 2.14 and a beta of 0.97. The firm’s fifty day moving average price is $229.81 and its two-hundred day moving average price is $196.91. Caterpillar Inc. has a twelve month low of $100.22 and a twelve month high of $237.78.
Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.94. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11 billion. Caterpillar had a net margin of 7.60% and a return on equity of 25.24%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.60 EPS. As a group, equities research analysts anticipate that Caterpillar Inc. will post 5.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Monday, April 26th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, April 23rd. This represents a $4.12 dividend on an annualized basis and a yield of 1.81%. Caterpillar’s dividend payout ratio is currently 37.25%.
In other news, insider Denise C. Johnson sold 80,695 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $219.82, for a total value of $17,738,374.90. Following the sale, the insider now owns 38,945 shares in the company, valued at approximately $8,560,889.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Gary Michael Marvel sold 5,056 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $220.97, for a total transaction of $1,117,224.32. Following the completion of the sale, the chief accounting officer now owns 5,623 shares in the company, valued at approximately $1,242,514.31. The disclosure for this sale can be found here. Insiders sold a total of 145,062 shares of company stock worth $31,884,447 in the last quarter. 0.31% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on CAT shares. Wolfe Research began coverage on Caterpillar in a report on Monday, April 19th. They set an “outperform” rating and a $265.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Caterpillar from $232.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, April 19th. Citigroup raised their price objective on shares of Caterpillar from $205.00 to $245.00 in a research report on Tuesday, March 16th. Morgan Stanley raised their price objective on shares of Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their price target on shares of Caterpillar from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, January 15th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $205.37.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, 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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