Community Bank N.A. cut its stake in Caterpillar Inc. (NYSE:CAT) by 43.3% during the first quarter, Holdings Channel reports. The institutional investor owned 7,858 shares of the industrial products company’s stock after selling 6,010 shares during the period. Community Bank N.A.’s holdings in Caterpillar were worth $729,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Caterpillar by 25.8% in the fourth quarter. FMR LLC now owns 15,763,049 shares of the industrial products company’s stock valued at $1,461,865,000 after buying an additional 3,228,098 shares in the last quarter. Norges Bank purchased a new stake in Caterpillar during the fourth quarter valued at about $414,361,000. UBS Asset Management Americas Inc. raised its stake in Caterpillar by 0.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,218,953 shares of the industrial products company’s stock valued at $205,785,000 after buying an additional 14,913 shares in the last quarter. Prudential PLC raised its stake in Caterpillar by 10.6% in the fourth quarter. Prudential PLC now owns 2,017,387 shares of the industrial products company’s stock valued at $187,093,000 after buying an additional 192,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Caterpillar by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,972,478 shares of the industrial products company’s stock valued at $182,967,000 after buying an additional 10,285 shares in the last quarter. 70.97% of the stock is owned by institutional investors.
Caterpillar Inc. (NYSE CAT) opened at 105.92 on Friday. The stock’s 50 day moving average price is $102.42 and its 200-day moving average price is $96.64. Caterpillar Inc. has a 52-week low of $70.53 and a 52-week high of $107.17. The company’s market capitalization is $62.40 billion.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.66. Caterpillar had a positive return on equity of 13.44% and a negative net margin of 0.17%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that Caterpillar Inc. will post $4.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, May 20th. Investors of record on Monday, April 24th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Thursday, April 20th. Caterpillar’s payout ratio is -2,369.23%.
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Several equities research analysts recently issued reports on CAT shares. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a report on Tuesday. Evercore ISI raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, February 10th. Raymond James Financial, Inc. raised shares of Caterpillar to a “buy” rating and set a $55.00 target price for the company in a report on Thursday, April 27th. Bank of America Corp raised shares of Caterpillar from a “neutral” rating to a “buy” rating and increased their target price for the stock from $105.00 to $120.00 in a report on Thursday, May 11th. Finally, Vetr raised shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $90.53 target price for the company in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $94.65.
Caterpillar Company Profile
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