Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Caterpillar Inc. (NYSE:CAT) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 344,435 shares of the industrial products company’s stock after acquiring an additional 18,565 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.06% of Caterpillar worth $39,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. grew its position in Caterpillar by 143.1% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 175 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 103 shares during the period. Engrave Wealth Partners LLC acquired a new stake in Caterpillar during the 4th quarter worth about $32,000. Capital Analysts LLC grew its position in Caterpillar by 108.2% during the 1st quarter. Capital Analysts LLC now owns 229 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 119 shares during the period. Savior LLC acquired a new stake in Caterpillar during the 4th quarter worth about $36,000. Finally, Central Bank & Trust Co. acquired a new stake in Caterpillar during the 1st quarter worth about $33,000. 64.31% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on CAT. Wells Fargo & Co cut their price target on Caterpillar from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 17th. UBS Group increased their price target on Caterpillar from $100.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Citigroup cut their price target on Caterpillar from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Cfra dropped their target price on Caterpillar from $120.00 to $101.00 and set a “sell” rating on the stock in a research report on Tuesday, April 28th. Finally, Royal Bank of Canada dropped their target price on Caterpillar from $152.00 to $145.00 and set a “positive” rating on the stock in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $127.63.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.09). The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.98 billion. Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The company’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.94 earnings per share. On average, analysts expect that Caterpillar Inc. will post 4.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Monday, April 20th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Friday, April 17th. Caterpillar’s dividend payout ratio is presently 37.25%.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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