Community Bank N.A. raised its stake in Caterpillar Inc. (NYSE:CAT) by 19.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,040 shares of the industrial products company’s stock after acquiring an additional 2,905 shares during the period. Community Bank N.A.’s holdings in Caterpillar were worth $2,282,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Analysts LLC increased its holdings in Caterpillar by 108.2% in the 1st quarter. Capital Analysts LLC now owns 229 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 119 shares during the last quarter. Private Ocean LLC increased its holdings in shares of Caterpillar by 62.9% in the 1st 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 last quarter. Central Bank & Trust Co. bought a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. Modus Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $33,000. Finally, Glassman Wealth Services increased its holdings in shares of Caterpillar by 52.6% in the 1st quarter. Glassman Wealth Services now owns 296 shares of the industrial products company’s stock worth $34,000 after buying an additional 102 shares during the last quarter. Institutional investors own 66.80% of the company’s stock.
A number of research firms have recently weighed in on CAT. Stephens reduced their target price 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. BofA Securities upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating in a report on Wednesday, July 8th. 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 report on Monday, April 27th. Sanford C. Bernstein downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. Finally, Barclays restated a “hold” rating and issued a $140.00 target price on shares of Caterpillar in a report on Thursday, April 16th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $135.22.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.37. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The firm’s quarterly revenue was down 30.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.83 EPS. As a group, equities research analysts anticipate that Caterpillar Inc. will post 5.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, July 20th will be given a $1.03 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.12 annualized dividend and a yield of 3.10%. Caterpillar’s dividend payout ratio (DPR) 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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