Somerville Kurt F lifted its stake in Caterpillar Inc. (NYSE:CAT) by 36.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,900 shares of the industrial products company’s stock after acquiring an additional 1,050 shares during the period. Somerville Kurt F’s holdings in Caterpillar were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in CAT. Loeb Partners Corp purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $25,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $26,000. Bartlett & Co. LLC lifted its position in shares of Caterpillar by 150.0% in the 4th quarter. Bartlett & Co. LLC now owns 250 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Paragon Capital Management LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at approximately $40,000. Finally, PRW Wealth Management LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $43,000. 67.80% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the stock. ValuEngine downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. UBS Group set a $125.00 price objective on shares of Caterpillar and gave the company a “sell” rating in a research note on Friday, May 3rd. Morgan Stanley set a $165.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, April 10th. Bank of America set a $152.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank lowered shares of Caterpillar from a “buy” rating to a “hold” rating and dropped their price objective for the company from $152.00 to $128.00 in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $145.39.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.10. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same quarter in the prior year, the business posted $2.82 EPS. Caterpillar’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 12.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.03 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, July 19th. This represents a $4.12 annualized dividend and a dividend yield of 3.25%. Caterpillar’s dividend payout ratio is 30.66%.
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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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