Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 189.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,050 shares of the industrial products company’s stock after acquiring an additional 12,470 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Caterpillar were worth $2,905,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Acropolis Investment Management LLC acquired a new stake in Caterpillar during the 3rd quarter worth approximately $100,000. Sound Income Strategies LLC lifted its holdings in Caterpillar by 181.8% during the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 429 shares during the last quarter. St. Johns Investment Management Company LLC acquired a new stake in Caterpillar during the 3rd quarter worth approximately $106,000. Avestar Capital LLC lifted its holdings in Caterpillar by 92.3% during the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 477 shares during the last quarter. Finally, Landaas & Co. WI ADV acquired a new stake in Caterpillar during the 2nd quarter worth approximately $130,000. Institutional investors own 66.86% of the company’s stock.
In other Caterpillar news, insider Lange Bob De purchased 1,080 shares of the firm’s stock in a transaction dated Friday, October 26th. The shares were bought at an average price of $115.58 per share, for a total transaction of $124,826.40. Following the purchase, the insider now owns 11,310 shares in the company, valued at approximately $1,307,209.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the transaction, the insider now owns 22,826 shares in the company, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The company had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. During the same quarter last year, the company posted $1.95 EPS. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts expect that Caterpillar Inc. will post 11.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd were paid a $0.86 dividend. The ex-dividend date of this dividend was Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.48%. Caterpillar’s payout ratio is 50.00%.
Several analysts recently weighed in on the company. Barclays reissued a “hold” rating on shares of Caterpillar in a report on Wednesday, October 24th. Macquarie set a $105.00 price target on Caterpillar and gave the stock a “sell” rating in a report on Wednesday, October 24th. Morgan Stanley set a $169.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. OTR Global cut Caterpillar to a “positive” rating in a report on Friday, September 21st. Finally, DZ Bank raised Caterpillar to a “hold” rating and dropped their price target for the stock from $127.00 to $119.00 in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $158.90.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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