Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,091 shares of the industrial products company’s stock after selling 3,674 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Caterpillar were worth $1,514,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Harbour Capital Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth approximately $107,000. First Personal Financial Services increased its position in Caterpillar by 167.4% during the 1st quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 750 shares during the period. Harfst & Associates Inc. acquired a new position in Caterpillar during the 1st quarter worth approximately $111,000. Financial Architects Inc increased its position in Caterpillar by 5.7% during the 1st quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 65 shares during the period. Finally, Reilly Financial Advisors LLC increased its position in Caterpillar by 92.9% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 535 shares during the period. 69.23% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the company. Atlantic Securities upgraded Caterpillar from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $85.00 to $115.00 in a research report on Thursday, August 3rd. Vetr upgraded Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 target price on the stock in a research report on Thursday, August 10th. Argus reiterated a “buy” rating and set a $113.10 target price (down previously from $130.00) on shares of Caterpillar in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and set a $120.00 target price (up previously from $100.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Finally, Seaport Global Securities assumed coverage on Caterpillar in a research report on Wednesday, September 6th. They set a “neutral” rating and a $120.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $110.79.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.
Caterpillar, Inc. (CAT) opened at 118.87 on Tuesday. Caterpillar, Inc. has a 52 week low of $79.93 and a 52 week high of $119.19. The stock has a market cap of $70.25 billion, a price-to-earnings ratio of 664.08 and a beta of 1.24. The firm’s 50 day moving average price is $114.72 and its 200-day moving average price is $103.98.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the company posted $1.09 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts expect that Caterpillar, Inc. will post $5.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.62%. This is a boost from Caterpillar’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Tuesday, July 18th. Caterpillar’s payout ratio is presently 2,080.00%.
Caterpillar Company Profile
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.