Heritage Investors Management Corp cut its holdings in Caterpillar Inc. (NYSE:CAT) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,250 shares of the industrial products company’s stock after selling 8,767 shares during the period. Caterpillar makes up 1.9% of Heritage Investors Management Corp’s portfolio, making the stock its 7th largest position. Heritage Investors Management Corp’s holdings in Caterpillar were worth $31,240,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Beach Investment Management LLC. bought a new stake in Caterpillar in the second quarter worth $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Caterpillar by 9.8% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock valued at $5,995,000 after acquiring an additional 4,291 shares during the period. Wealthsource Partners LLC purchased a new position in shares of Caterpillar in the second quarter valued at about $316,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Caterpillar by 18.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,100 shares of the industrial products company’s stock valued at $18,979,000 after acquiring an additional 23,749 shares during the period. Finally, FMR LLC increased its position in shares of Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after acquiring an additional 2,052,300 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on CAT. Citigroup boosted their price objective on shares of Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price objective on the stock in a research report on Thursday, October 19th. Argus boosted their price objective on shares of Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Bank of America restated a “buy” rating and issued a $189.00 price objective (up previously from $158.00) on shares of Caterpillar in a research report on Friday, January 12th. Finally, Credit Suisse Group boosted their price objective on shares of Caterpillar from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Caterpillar currently has a consensus rating of “Buy” and a consensus price target of $167.60.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.01 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. Caterpillar’s quarterly revenue was up 34.7% on a year-over-year basis. research analysts forecast that Caterpillar Inc. will post 9.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is presently 247.62%.
In other Caterpillar news, insider Thomas A. Pellette sold 24,547 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Suzette M. Long sold 528 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the completion of the sale, the general counsel now owns 19,646 shares in the company, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,331 shares of company stock worth $22,107,578. Corporate insiders own 0.14% of the company’s stock.
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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 segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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