Equitable Trust Co. grew its holdings in Caterpillar Inc. (NYSE:CAT) by 97.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,827 shares of the industrial products company’s stock after acquiring an additional 2,875 shares during the period. Equitable Trust Co.’s holdings in Caterpillar were worth $888,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Capital Research Global Investors increased its position in shares of Caterpillar by 289.4% during the 3rd quarter. Capital Research Global Investors now owns 3,934,537 shares of the industrial products company’s stock worth $599,978,000 after purchasing an additional 2,924,169 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Caterpillar by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,290,431 shares of the industrial products company’s stock worth $349,268,000 after purchasing an additional 50,927 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Caterpillar by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,986 shares of the industrial products company’s stock worth $329,982,000 after purchasing an additional 16,752 shares in the last quarter. Swiss National Bank increased its position in shares of Caterpillar by 3.5% during the 2nd quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock worth $268,086,000 after purchasing an additional 67,200 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Caterpillar by 23.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after purchasing an additional 374,038 shares in the last quarter. Institutional investors own 66.80% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Citigroup upgraded shares of Caterpillar to an “outperform” rating in a research report on Friday, September 21st. OTR Global cut shares of Caterpillar to a “positive” rating in a research report on Friday, September 21st. Macquarie set a $130.00 target price on shares of Caterpillar and gave the stock a “sell” rating in a research report on Tuesday, September 25th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 target price for the company in a research report on Thursday, September 20th. Finally, Zacks Investment Research lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $158.90.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.95 EPS. Analysts expect that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 20th. Stockholders of record on Tuesday, January 22nd will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, January 18th. Caterpillar’s dividend payout ratio (DPR) is presently 50.00%.
In other Caterpillar news, insider Lange Bob De bought 1,080 shares of Caterpillar stock in a transaction dated Friday, October 26th. The shares were bought at an average price of $115.58 per share, with a total value of $124,826.40. Following the purchase, the insider now owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Denise C. Johnson sold 35,051 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the completion of the transaction, the insider now directly owns 22,826 shares in the company, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
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Caterpillar Company Profile
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.
Further Reading: How Does the Quiet Period Work?
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