Zurcher Kantonalbank Zurich Cantonalbank Purchases 7,194 Shares of Caterpillar Inc. (NYSE:CAT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,856 shares of the industrial products company’s stock after purchasing an additional 7,194 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Caterpillar were worth $16,528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Park National Corp OH boosted its position in shares of Caterpillar by 2.1% during the second quarter. Park National Corp OH now owns 9,257 shares of the industrial products company’s stock valued at $1,261,000 after purchasing an additional 186 shares in the last quarter. Private Asset Management Inc. boosted its position in shares of Caterpillar by 10.0% during the second quarter. Private Asset Management Inc. now owns 10,156 shares of the industrial products company’s stock valued at $1,384,000 after purchasing an additional 926 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Caterpillar by 7.3% during the second quarter. Fulton Bank N.A. now owns 4,122 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 279 shares in the last quarter. Anderson Hoagland & Co. boosted its position in shares of Caterpillar by 1.7% during the second quarter. Anderson Hoagland & Co. now owns 25,232 shares of the industrial products company’s stock valued at $3,023,000 after purchasing an additional 420 shares in the last quarter. Finally, Rockland Trust Co. boosted its position in shares of Caterpillar by 12.0% during the second quarter. Rockland Trust Co. now owns 3,165 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 340 shares in the last quarter. Institutional investors own 64.96% of the company’s stock.

Several research firms have commented on CAT. Cleveland Research reissued a “hold” rating on shares of Caterpillar in a report on Monday, September 30th. Credit Suisse Group dropped their target price on Caterpillar from $165.00 to $149.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Morgan Stanley downgraded Caterpillar from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $150.00 to $145.00 in a report on Friday. Bank of America reissued a “buy” rating and issued a $145.00 target price (down from $150.00) on shares of Caterpillar in a report on Monday, September 9th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus target price of $137.42.

Shares of NYSE:CAT traded down $0.33 during midday trading on Friday, reaching $130.71. 4,192,144 shares of the company’s stock traded hands, compared to its average volume of 3,382,049. The company has a market cap of $74.30 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 0.95 and a beta of 1.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. Caterpillar Inc. has a one year low of $111.75 and a one year high of $144.77. The stock has a 50 day moving average of $125.55 and a 200 day moving average of $129.12.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). The business had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 earnings per share. Sell-side analysts predict that Caterpillar Inc. will post 11.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s payout ratio is currently 36.72%.

In other news, General Counsel Suzette M. Long sold 5,019 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $126.34, for a total transaction of $634,100.46. Following the transaction, the general counsel now directly owns 12,569 shares of the company’s stock, valued at $1,587,967.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Caterpillar Company Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

Further Reading: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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