Capital Wealth Planning LLC maintained its stake in shares of Caterpillar, Inc. (NYSE:CAT) during the third quarter, Holdings Channel reports. The firm owned 7,272 shares of the company’s stock at the end of the third quarter. Capital Wealth Planning LLC’s holdings in Caterpillar were worth $646,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of CAT. PVG Asset Management Corp purchased a new stake in shares of Caterpillar during the third quarter worth approximately $2,577,000. Boston Private Wealth LLC increased its stake in shares of Caterpillar by 11.0% in the third quarter. Boston Private Wealth LLC now owns 21,133 shares of the company’s stock worth $1,876,000 after buying an additional 2,095 shares during the period. Kernodle & Katon Asset Management Group LLC increased its stake in shares of Caterpillar by 5.0% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 1,369 shares of the company’s stock worth $122,000 after buying an additional 65 shares during the period. Scopus Asset Management L.P. purchased a new stake in shares of Caterpillar during the third quarter worth approximately $42,166,000. Finally, Patten Group Inc. increased its stake in shares of Caterpillar by 0.4% in the third quarter. Patten Group Inc. now owns 1,148 shares of the company’s stock worth $100,000 after buying an additional 5 shares during the period. Institutional investors and hedge funds own 70.88% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 96.31 on Friday. The company has a 50-day moving average of $94.39 and a 200 day moving average of $88.77. The firm’s market cap is $56.42 billion. Caterpillar, Inc. has a 12-month low of $63.07 and a 12-month high of $99.46.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 26th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.17. Caterpillar had a positive return on equity of 13.44% and a negative net margin of 0.17%. The company earned $9.57 billion during the quarter, compared to analysts’ expectations of $9.87 billion. During the same period in the prior year, the business earned $0.74 earnings per share. Caterpillar’s revenue for the quarter was down 13.2% compared to the same quarter last year. Equities analysts predict that Caterpillar, Inc. will post $3.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 18th. Stockholders of record on Friday, January 20th will be given a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $3.08 annualized dividend and a dividend yield of 3.20%. Caterpillar’s dividend payout ratio is -2,369.23%.
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Several research firms recently issued reports on CAT. Standpoint Research cut shares of Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, January 26th. Barclays PLC raised their target price on shares of Caterpillar from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, January 27th. Wells Fargo & Company raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a research report on Friday, January 27th. Royal Bank Of Canada raised their target price on shares of Caterpillar from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Friday, January 27th. Finally, RBC Capital Markets reissued a “hold” rating and issued a $85.00 target price (up from $82.00) on shares of Caterpillar in a research report on Friday, January 27th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $87.01.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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