Lord Abbett & CO. LLC Has $79.11 Million Position in Caterpillar, Inc. (CAT)

Lord Abbett & CO. LLC trimmed its position in shares of Caterpillar, Inc. (NYSE:CAT) by 35.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 736,145 shares of the industrial products company’s stock after selling 411,881 shares during the period. Lord Abbett & CO. LLC owned about 0.12% of Caterpillar worth $79,106,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Caterpillar by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after acquiring an additional 2,377,623 shares in the last quarter. FMR LLC grew its stake in Caterpillar by 11.7% in the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after acquiring an additional 2,052,300 shares in the last quarter. Renaissance Technologies LLC bought a new position in Caterpillar in the 1st quarter worth about $143,490,000. Morgan Stanley boosted its stake in shares of Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in shares of Caterpillar by 663.8% during the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after purchasing an additional 1,216,053 shares in the last quarter. Institutional investors own 69.38% of the company’s stock.

Shares of Caterpillar, Inc. (NYSE CAT) opened at $136.53 on Tuesday. The stock has a market cap of $81,230.00, a P/E ratio of 24.59, a PEG ratio of 2.07 and a beta of 1.29. Caterpillar, Inc. has a 52 week low of $90.34 and a 52 week high of $140.44. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The business had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. sell-side analysts anticipate that Caterpillar, Inc. will post 6.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 216.67%.

A number of equities analysts have recently issued reports on the stock. UBS AG set a $155.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, October 25th. Stifel Nicolaus increased their price objective on shares of Caterpillar from $125.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Royal Bank Of Canada increased their target price on shares of Caterpillar from $120.00 to $143.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Robert W. Baird increased their target price on shares of Caterpillar from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Bank of America Corporation set a $152.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $133.92.

In other Caterpillar news, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the transaction, the insider now owns 11,096 shares in the company, valued at approximately $1,526,587.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 3,813 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $137.09, for a total transaction of $522,724.17. Following the transaction, the director now owns 6,554 shares of the company’s stock, valued at approximately $898,487.86. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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About Caterpillar

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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