Mercer Global Advisors Inc. ADV purchased a new position in Caterpillar Inc. (NYSE:CAT) during the first quarter, Holdings Channel reports. The fund purchased 23,160 shares of the industrial products company’s stock, valued at approximately $3,138,000.
Other large investors also recently bought and sold shares of the company. Standard Life Aberdeen plc grew its holdings in shares of Caterpillar by 9.7% during the third quarter. Standard Life Aberdeen plc now owns 209,886 shares of the industrial products company’s stock valued at $32,008,000 after buying an additional 18,610 shares during the last quarter. Kentucky Retirement Systems bought a new position in Caterpillar in the third quarter worth approximately $4,771,000. Beaton Management Co. Inc. raised its position in Caterpillar by 7.5% in the third quarter. Beaton Management Co. Inc. now owns 5,726 shares of the industrial products company’s stock worth $873,000 after acquiring an additional 400 shares during the period. Nordea Investment Management AB raised its position in Caterpillar by 18.4% in the third quarter. Nordea Investment Management AB now owns 288,999 shares of the industrial products company’s stock worth $44,068,000 after acquiring an additional 44,862 shares during the period. Finally, B. Riley Wealth Management Inc. bought a new position in Caterpillar in the third quarter worth approximately $1,423,000. 67.11% of the stock is currently owned by institutional investors.
Several research firms have weighed in on CAT. UBS Group downgraded shares of Caterpillar from a “buy” rating to a “sell” rating and decreased their price target for the stock from $154.00 to $125.00 in a research report on Tuesday, February 26th. Bank of America set a $152.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research report on Thursday, April 4th. Deutsche Bank downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and decreased their price target for the stock from $152.00 to $128.00 in a research report on Wednesday, April 3rd. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a research report on Tuesday, April 2nd. Finally, Morgan Stanley set a $165.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and a consensus target price of $145.39.
Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.10. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. Caterpillar’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $2.82 earnings per share. On average, equities analysts forecast that Caterpillar Inc. will post 12.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $3.44 annualized dividend and a yield of 2.47%. Caterpillar’s payout ratio is 30.66%.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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