Gamco Investors INC. ET AL acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the industrial products company’s stock, valued at approximately $1,355,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Loeb Partners Corp acquired a new stake in Caterpillar during the 4th quarter worth approximately $25,000. Clarfeld Financial Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Bartlett & Co. LLC increased its position 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 in the last quarter. Paragon Capital Management LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $40,000. Finally, PRW Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $43,000. 67.63% of the stock is owned by institutional investors.
A number of research firms recently issued reports on CAT. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 target price for the company in a research report on Tuesday, April 2nd. Bank of America set a $152.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research report on Thursday, April 4th. UBS Group set a $125.00 target price on shares of Caterpillar and gave the stock a “sell” rating in a research report on Thursday, April 4th. Deutsche Bank downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and dropped their target price for the stock from $152.00 to $128.00 in a research report on Wednesday, April 3rd. Finally, Morgan Stanley set a $165.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $145.39.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.10. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Caterpillar had a return on equity of 45.08% and a net margin of 11.50%. Caterpillar’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 12.24 earnings per share for the current fiscal year.
The firm also recently announced 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 boost from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, July 19th. Caterpillar’s dividend payout ratio is 30.66%.
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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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