swisspartners Ltd. acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 1,113 shares of the industrial products company’s stock, valued at approximately $259,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Brand Asset Management Group Inc. bought a new stake in shares of Caterpillar in the 1st quarter valued at about $26,000. IronBridge Private Wealth LLC purchased a new stake in Caterpillar in the fourth quarter valued at about $30,000. HBC Financial Services PLLC acquired a new stake in Caterpillar in the fourth quarter worth about $31,000. Oder Investment Management LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $34,000. Finally, Versant Capital Management Inc boosted its stake in Caterpillar by 51.0% in the 1st quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 49 shares in the last quarter. 68.22% of the stock is owned by hedge funds and other institutional investors.
CAT has been the topic of several research reports. Citigroup upped their target price on Caterpillar from $205.00 to $245.00 in a research report on Tuesday, March 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of Caterpillar from $205.00 to $245.00 in a research report on Tuesday, March 16th. Stifel Nicolaus increased their price objective on shares of Caterpillar from $222.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, May 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $264.00 price objective on shares of Caterpillar in a research note on Thursday, May 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $205.00 to $237.00 and gave the stock an “overweight” rating in a research report on Thursday, February 25th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $219.29.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.94. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11 billion. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 9.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 20th. Stockholders of record on Tuesday, July 20th will be given a $1.11 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, July 19th. This represents a $4.44 annualized dividend and a dividend yield of 2.00%. Caterpillar’s dividend payout ratio (DPR) is presently 62.80%.
In other Caterpillar news, Director David Maclennan acquired 420 shares of the stock in a transaction that occurred on Wednesday, May 5th. The stock was acquired at an average price of $237.86 per share, with a total value of $99,901.20. Following the transaction, the director now directly owns 890 shares in the company, valued at $211,695.40. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph E. Creed sold 7,699 shares of the stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $245.12, for a total transaction of $1,887,178.88. The disclosure for this sale can be found here. Company insiders own 0.18% 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 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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