Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 52.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,965 shares of the industrial products company’s stock after acquiring an additional 6,840 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Caterpillar were worth $3,276,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Curi Wealth Management LLC raised its holdings in shares of Caterpillar by 289.7% during the second quarter. Curi Wealth Management LLC now owns 152 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 113 shares during the period. Castle Wealth Management LLC acquired a new position in Caterpillar in the 2nd quarter valued at approximately $33,000. Morgan Dempsey Capital Management LLC acquired a new position in Caterpillar in the 3rd quarter valued at approximately $33,000. Investors Research Corp acquired a new position in Caterpillar in the 2nd quarter valued at approximately $37,000. Finally, Leelyn Smith LLC increased its stake in Caterpillar by 51.0% in the 2nd quarter. Leelyn Smith LLC now owns 216 shares of the industrial products company’s stock valued at $39,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 68.02% of the company’s stock.
Analysts Set New Price Targets
CAT has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Caterpillar from $224.00 to $242.00 in a research note on Thursday, October 27th. Bank of America raised shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $217.00 to $295.00 in a research report on Friday, January 13th. Cowen boosted their target price on shares of Caterpillar from $240.00 to $264.00 in a research report on Friday, December 9th. StockNews.com started coverage on shares of Caterpillar in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Morgan Stanley boosted their target price on shares of Caterpillar from $174.00 to $190.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.00.
Caterpillar Price Performance
Caterpillar (NYSE:CAT – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The industrial products company reported $3.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.76. Caterpillar had a net margin of 13.02% and a return on equity of 41.76%. The company had revenue of $14.99 billion during the quarter, compared to analysts’ expectations of $14.34 billion. Analysts anticipate that Caterpillar Inc. will post 13.85 earnings per share for the current year.
Caterpillar Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Friday, January 20th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, January 19th. Caterpillar’s dividend payout ratio (DPR) is currently 34.86%.
Insider Buying and Selling
In related news, General Counsel Suzette M. Long sold 1,884 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $237.28, for a total transaction of $447,035.52. Following the completion of the sale, the general counsel now owns 8,665 shares in the company, valued at approximately $2,056,031.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Lange Bob De sold 11,000 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $250.00, for a total transaction of $2,750,000.00. Following the sale, the insider now owns 44,559 shares of the company’s stock, valued at approximately $11,139,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Suzette M. Long sold 1,884 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $237.28, for a total transaction of $447,035.52. Following the sale, the general counsel now directly owns 8,665 shares in the company, valued at approximately $2,056,031.20. The disclosure for this sale can be found here. Insiders sold 54,915 shares of company stock worth $13,452,445 in the last quarter. 0.27% of the stock is owned by corporate insiders.
Caterpillar Company Profile
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.
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