City Holding Co. Has $2.76 Million Stake in Caterpillar Inc. (CAT)

City Holding Co. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,403 shares of the industrial products company’s stock after selling 270 shares during the period. City Holding Co.’s holdings in Caterpillar were worth $2,764,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Loeb Partners Corp acquired a new stake in Caterpillar during the 4th quarter valued at $25,000. Clarfeld Financial Advisors LLC acquired a new stake in Caterpillar during the 4th quarter valued at $26,000. Bartlett & Co. LLC grew 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 valued at $32,000 after buying an additional 150 shares during the last quarter. Paragon Capital Management LLC acquired a new stake in Caterpillar during the 1st quarter valued at $40,000. Finally, PRW Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter valued at $43,000. 67.07% of the stock is owned by institutional investors and hedge funds.

CAT stock opened at $143.36 on Monday. Caterpillar Inc. has a 52-week low of $112.06 and a 52-week high of $161.60. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.96 and a current ratio of 1.37. The firm has a market cap of $82.51 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Monday, January 28th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.43). Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The business had revenue of $14.34 billion for the quarter, compared to analyst estimates of $14.36 billion. During the same quarter last year, the business earned $2.16 EPS. Caterpillar’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 12.19 EPS for the current fiscal year.

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

A number of brokerages have commented on CAT. Standpoint Research upgraded Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 target price on the stock in a report on Wednesday, December 26th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a report on Tuesday, April 2nd. UBS Group set a $154.00 target price on Caterpillar and gave the company a “buy” rating in a report on Tuesday, January 29th. OTR Global cut Caterpillar to a “positive” rating in a report on Friday, February 15th. Finally, Credit Suisse Group lowered their target price on Caterpillar from $183.00 to $173.00 and set an “outperform” rating on the stock in a report on Friday, January 18th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $146.71.

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About Caterpillar

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: Hedge Funds

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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