Stolper Co Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

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Stolper Co lowered its position in Caterpillar Inc. (NYSE:CAT) by 6.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 11,097 shares of the industrial products company’s stock after selling 765 shares during the period. Stolper Co’s holdings in Caterpillar were worth $1,404,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Vestcor Investment Management Corp acquired a new stake in Caterpillar in the 4th quarter worth about $1,415,000. King Luther Capital Management Corp boosted its stake in Caterpillar by 19.9% in the 4th quarter. King Luther Capital Management Corp now owns 15,937 shares of the industrial products company’s stock worth $2,354,000 after buying an additional 2,650 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Caterpillar in the 4th quarter worth about $1,351,000. Magnetar Financial LLC acquired a new stake in Caterpillar in the 4th quarter worth about $369,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Caterpillar by 49.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315,620 shares of the industrial products company’s stock worth $46,611,000 after buying an additional 105,000 shares during the last quarter. Institutional investors and hedge funds own 64.07% of the company’s stock.

CAT stock traded down $2.08 during midday trading on Thursday, hitting $126.05. 96,422 shares of the company’s stock were exchanged, compared to its average volume of 3,427,237. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 1.71. Caterpillar Inc. has a 12-month low of $87.50 and a 12-month high of $150.55. The firm has a 50 day moving average price of $124.36 and a 200-day moving average price of $125.40. The stock has a market capitalization of $69.26 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.09). Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.98 billion. During the same quarter in the prior year, the firm earned $2.94 earnings per share. Caterpillar’s revenue for the quarter was down 21.0% compared to the same quarter last year. On average, sell-side analysts forecast that Caterpillar Inc. will post 5.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, July 20th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.12 annualized dividend and a yield of 3.27%. Caterpillar’s dividend payout ratio is presently 37.25%.

Several equities analysts have recently weighed in on CAT shares. Wells Fargo & Co reduced their price objective on Caterpillar from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. BofA Securities raised Caterpillar from an “underperform” rating to a “neutral” rating in a research note on Wednesday. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and set a $93.00 price objective on the stock. in a research note on Monday, April 27th. UBS Group lifted their price objective on Caterpillar from $112.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Cfra reduced their price objective on Caterpillar from $120.00 to $101.00 and set a “sell” rating on the stock in a research note on Tuesday, April 28th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $134.79.

About Caterpillar

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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