Thrivent Financial for Lutherans Decreases Holdings in Caterpillar Inc. (CAT)

Thrivent Financial for Lutherans lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 96.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,133 shares of the industrial products company’s stock after selling 688,688 shares during the period. Thrivent Financial for Lutherans’ holdings in Caterpillar were worth $3,321,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Loeb Partners Corp bought a new position in shares of Caterpillar during the 4th quarter worth approximately $25,000. Bartlett & Co. LLC lifted its holdings in Caterpillar by 150.0% during the 4th quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. PRW Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $43,000. Murphy Pohlad Asset Management LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $48,000. Finally, Vectors Research Management LLC lifted its holdings in Caterpillar by 32.1% during the 4th quarter. Vectors Research Management LLC now owns 412 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 67.07% of the company’s stock.

Shares of CAT stock traded up $1.47 during trading on Friday, hitting $143.36. The company’s stock had a trading volume of 4,504,507 shares, compared to its average volume of 3,465,650. Caterpillar Inc. has a 52 week low of $112.06 and a 52 week high of $161.60. The firm has a market cap of $82.51 billion, a PE ratio of 12.78, a P/E/G ratio of 0.75 and a beta of 1.46. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 1.78.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Monday, January 28th. The industrial products company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.43). Caterpillar had a net margin of 11.23% and a return on equity of 45.31%. The firm had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same period last year, the company posted $2.16 earnings per share. Caterpillar’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts expect that Caterpillar Inc. will post 12.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a $0.86 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.40%. Caterpillar’s dividend payout ratio (DPR) is presently 30.66%.

Several brokerages have weighed in on CAT. UBS Group cut Caterpillar from a “buy” rating to a “sell” rating and dropped their price objective for the company from $154.00 to $125.00 in a report on Tuesday, February 26th. Bank of America set a $152.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Thursday, April 4th. Deutsche Bank cut Caterpillar from a “buy” rating to a “hold” rating and lowered their price target for the stock from $152.00 to $128.00 in a report on Wednesday, April 3rd. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a research report on Tuesday, April 2nd. Finally, Morgan Stanley set a $165.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the company. Caterpillar has a consensus rating of “Hold” and an average target price of $146.71.

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Caterpillar 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.

Further Reading: Coverage Ratio

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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