Candriam Luxembourg S.C.A. lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 40.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,846 shares of the industrial products company’s stock after selling 50,037 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Caterpillar were worth $10,735,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Jennison Associates LLC boosted its position in Caterpillar by 126.5% during the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after acquiring an additional 3,324,051 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Caterpillar by 6.5% during the fourth quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after purchasing an additional 2,297,750 shares during the period. Prudential Financial Inc. raised its holdings in shares of Caterpillar by 99.6% during the first quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products company’s stock valued at $293,415,000 after purchasing an additional 993,438 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Caterpillar during the fourth quarter valued at about $148,604,000. Finally, CI Investments Inc. raised its holdings in shares of Caterpillar by 400,906.6% during the fourth quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock valued at $104,896,000 after purchasing an additional 665,505 shares during the period. 66.86% of the stock is currently owned by institutional investors and hedge funds.
In other Caterpillar news, CFO Joseph E. Creed sold 4,532 shares of the company’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $155.67, for a total value of $705,496.44. Following the completion of the sale, the chief financial officer now directly owns 2,554 shares of the company’s stock, valued at approximately $397,581.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Calhoun acquired 5,000 shares of Caterpillar stock in a transaction on Monday, May 14th. The stock was purchased at an average cost of $155.37 per share, with a total value of $776,850.00. Following the completion of the transaction, the director now directly owns 19,579 shares in the company, valued at approximately $3,041,989.23. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.71. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The business had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.99 billion. During the same period in the prior year, the firm posted $1.28 EPS. The firm’s quarterly revenue was up 30.9% compared to the same quarter last year. equities analysts expect that Caterpillar Inc. will post 10.72 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, May 19th. Shareholders of record on Monday, April 23rd were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, April 20th. Caterpillar’s payout ratio is 45.35%.
Several equities analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $174.00 price objective (down previously from $176.00) on shares of Caterpillar in a report on Monday, May 14th. Buckingham Research assumed coverage on shares of Caterpillar in a report on Wednesday, April 11th. They set a “buy” rating and a $170.00 price objective on the stock. Morgan Stanley set a $185.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, April 25th. Daiwa Capital Markets lowered shares of Caterpillar from an “outperform” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Wednesday, April 25th. Finally, UBS set a $178.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, April 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $172.55.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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