Starfire Investment Advisers Inc. increased its position in Caterpillar Inc. (NYSE:CAT) by 25.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,450 shares of the industrial products company’s stock after buying an additional 500 shares during the quarter. Starfire Investment Advisers Inc.’s holdings in Caterpillar were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Analysts LLC increased its stake in shares of Caterpillar by 108.2% in the first quarter. Capital Analysts LLC now owns 229 shares of the industrial products company’s stock worth $27,000 after buying an additional 119 shares during the period. Private Ocean LLC increased its stake in shares of Caterpillar by 62.9% in the first quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $30,000 after buying an additional 100 shares during the period. Engrave Wealth Partners LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $32,000. Central Bank & Trust Co. purchased a new position in shares of Caterpillar in the first quarter worth $33,000. Finally, Modus Advisors LLC purchased a new position in shares of Caterpillar in the second quarter worth $33,000. 64.07% of the stock is currently owned by institutional investors.
Several research analysts recently commented on CAT shares. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and set a $93.00 target price on the stock. in a research note on Monday, April 27th. Barclays reiterated a “hold” rating and issued a $140.00 price target on shares of Caterpillar in a report on Thursday, April 16th. Stephens cut their price target on shares of Caterpillar from $100.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, April 9th. Cfra cut their price target on shares of Caterpillar from $120.00 to $101.00 and set a “sell” rating on the stock in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. set a $150.00 price target on shares of Caterpillar and gave the company a “buy” rating in a report on Tuesday, April 28th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $134.79.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $1.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.09). The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.98 billion. Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The business’s quarterly revenue was down 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.94 EPS. Equities analysts predict that Caterpillar Inc. will post 5.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 20th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Friday, July 17th. Caterpillar’s payout ratio is 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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