Stonebridge Capital Management Inc. cut its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 16.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,229 shares of the industrial products company’s stock after selling 4,375 shares during the period. Stonebridge Capital Management Inc.’s holdings in Caterpillar were worth $2,389,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of CAT. Delta Asset Management LLC TN boosted its position in Caterpillar by 0.5% during the 1st quarter. Delta Asset Management LLC TN now owns 62,199 shares of the industrial products company’s stock worth $5,770,000 after buying an additional 310 shares during the period. Crossvault Capital Management LLC boosted its position in Caterpillar by 13.4% during the 1st quarter. Crossvault Capital Management LLC now owns 7,175 shares of the industrial products company’s stock worth $666,000 after buying an additional 850 shares during the period. Janney Montgomery Scott LLC boosted its position in Caterpillar by 3.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 120,199 shares of the industrial products company’s stock worth $11,150,000 after buying an additional 4,088 shares during the period. Shell Asset Management Co. boosted its position in Caterpillar by 12.7% during the 1st quarter. Shell Asset Management Co. now owns 164,886 shares of the industrial products company’s stock worth $15,295,000 after buying an additional 18,626 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Caterpillar by 4.8% in the 1st quarter. Russell Investments Group Ltd. now owns 679,422 shares of the industrial products company’s stock worth $63,022,000 after purchasing an additional 31,218 shares during the period. Institutional investors and hedge funds own 69.23% of the company’s stock.
CAT has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Caterpillar from a “c+” rating to a “b” rating in a research report on Tuesday, July 25th. Bank of America Corporation restated a “buy” rating and issued a $120.00 price target on shares of Caterpillar in a research report on Thursday, May 25th. Credit Suisse Group restated a “buy” rating and issued a $123.00 price target on shares of Caterpillar in a research report on Thursday, June 22nd. Deutsche Bank AG dropped their price target on shares of Caterpillar from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $110.79.
In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 in the last three months. Insiders own 0.15% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE CAT) opened at 118.87 on Tuesday. The company has a market cap of $70.25 billion, a price-to-earnings ratio of 664.08 and a beta of 1.24. The stock has a 50 day moving average of $114.72 and a 200 day moving average of $103.98. Caterpillar, Inc. has a 1-year low of $79.93 and a 1-year high of $119.19.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. On average, equities analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Tuesday, July 18th. This represents a $3.12 annualized dividend and a yield of 2.62%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is currently 2,080.00%.
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