DAVENPORT & Co LLC Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

DAVENPORT & Co LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,579 shares of the industrial products company’s stock after acquiring an additional 1,338 shares during the period. DAVENPORT & Co LLC’s holdings in Caterpillar were worth $7,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Heron Financial Group LLC raised its holdings in shares of Caterpillar by 3.5% during the 3rd quarter. Heron Financial Group LLC now owns 2,010 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 68 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Caterpillar by 10.1% during the 3rd quarter. Raymond James Trust N.A. now owns 14,030 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 1,288 shares during the period. Alpha Cubed Investments LLC raised its holdings in Caterpillar by 20.7% during the 3rd quarter. Alpha Cubed Investments LLC now owns 68,838 shares of the industrial products company’s stock valued at $10,267,000 after buying an additional 11,803 shares during the period. First American Trust FSB purchased a new stake in Caterpillar during the 3rd quarter valued at $5,207,000. Finally, Avantax Advisory Services Inc. raised its holdings in Caterpillar by 175.5% during the 3rd quarter. Avantax Advisory Services Inc. now owns 37,532 shares of the industrial products company’s stock valued at $5,600,000 after buying an additional 23,907 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of CAT stock opened at $168.75 on Friday. Caterpillar Inc. has a 1-year low of $87.50 and a 1-year high of $170.51. The stock’s 50-day moving average is $150.71 and its 200 day moving average is $131.34. The company has a market cap of $91.38 billion, a P/E ratio of 22.65, a PEG ratio of 2.59 and a beta of 1.05. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.50 and a quick ratio of 1.05.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.37. Caterpillar had a return on equity of 30.52% and a net margin of 8.90%. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter last year, the company earned $2.83 earnings per share. The firm’s revenue for the quarter was down 30.7% compared to the same quarter last year. On average, analysts anticipate that Caterpillar Inc. will post 5.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Monday, October 26th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, October 23rd. Caterpillar’s payout ratio is currently 37.25%.

In related news, insider Lange Bob De sold 1,575 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $147.00, for a total transaction of $231,525.00. Following the sale, the insider now owns 30,798 shares of the company’s stock, valued at $4,527,306. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Several research firms recently weighed in on CAT. Sanford C. Bernstein began coverage on Caterpillar in a report on Tuesday, September 22nd. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Caterpillar from $162.00 to $171.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Credit Suisse Group upped their price objective on Caterpillar from $159.00 to $179.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus upped their price objective on Caterpillar from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Morgan Stanley upped their price objective on Caterpillar from $111.00 to $120.00 and gave the company an “underweight” rating in a research report on Monday, October 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $145.37.

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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