DNB Asset Management AS Grows Position in Caterpillar Inc. (NYSE:CAT)

DNB Asset Management AS increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,944 shares of the industrial products company’s stock after purchasing an additional 4,447 shares during the period. DNB Asset Management AS’s holdings in Caterpillar were worth $15,552,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. American National Bank purchased a new position in shares of Caterpillar during the 2nd quarter worth about $42,000. Diversified Trust Co purchased a new position in shares of Caterpillar during the 2nd quarter worth about $334,000. Private Trust Co. NA boosted its stake in shares of Caterpillar by 3.8% during the 2nd quarter. Private Trust Co. NA now owns 5,187 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 192 shares during the period. Truehand Inc boosted its stake in shares of Caterpillar by 126.4% during the 2nd quarter. Truehand Inc now owns 815 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 455 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Caterpillar by 24.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 118,400 shares of the industrial products company’s stock worth $14,976,000 after purchasing an additional 23,110 shares during the period. 64.07% of the stock is owned by hedge funds and other institutional investors.

NYSE:CAT opened at $128.13 on Thursday. Caterpillar Inc. has a one year low of $87.50 and a one year high of $150.55. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.97 and a current ratio of 1.42. The firm has a market cap of $68.85 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.00 and a beta of 1.10. The firm has a 50-day simple moving average of $124.36 and a 200-day simple moving average of $125.40.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.09). The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.98 billion. Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. The company’s revenue was down 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.94 EPS. On average, research analysts predict that Caterpillar Inc. will post 5.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 20th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.12 annualized dividend and a dividend yield of 3.22%. Caterpillar’s dividend payout ratio (DPR) is presently 37.25%.

A number of equities analysts recently commented on CAT shares. Stifel Nicolaus raised shares of Caterpillar from a “hold” rating to a “buy” rating and dropped their price target for the stock from $140.00 to $137.00 in a research note on Monday, March 16th. Goldman Sachs Group set a $144.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. set a $150.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research report on Tuesday, April 28th. Cfra lowered their price objective on shares of Caterpillar from $120.00 to $101.00 and set a “sell” rating for the company in a research report on Tuesday, April 28th. Finally, Deutsche Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating and boosted their price objective for the company from $126.50 to $166.00 in a research report on Tuesday, June 30th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $134.79.

Caterpillar 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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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