Flagship Harbor Advisors LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 13.8% during the first quarter, HoldingsChannel reports. The firm owned 2,895 shares of the industrial products company’s stock after selling 464 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Caterpillar were worth $392,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of CAT. Standard Life Aberdeen plc boosted its position in 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 purchasing an additional 18,610 shares in the last quarter. Macquarie Group Ltd. boosted its position in Caterpillar by 7.5% during the third quarter. Macquarie Group Ltd. now owns 147,059 shares of the industrial products company’s stock valued at $22,425,000 after purchasing an additional 10,250 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Caterpillar during the third quarter valued at about $4,771,000. Beaton Management Co. Inc. boosted its position in Caterpillar by 7.5% during the third quarter. Beaton Management Co. Inc. now owns 5,726 shares of the industrial products company’s stock valued at $873,000 after purchasing an additional 400 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Caterpillar by 18.4% during the third quarter. Nordea Investment Management AB now owns 288,999 shares of the industrial products company’s stock valued at $44,068,000 after purchasing an additional 44,862 shares in the last quarter. 67.07% of the stock is currently owned by institutional investors.
Shares of NYSE CAT opened at $143.36 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.37 and a quick ratio of 0.96. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $161.60. The stock has a market capitalization of $82.15 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46.
Caterpillar (NYSE:CAT) last released its earnings results on Monday, January 28th. The industrial products company reported $2.55 EPS for the quarter, missing the Zacks’ consensus estimate of $2.98 by ($0.43). Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The firm had revenue of $14.34 billion for the quarter, compared to analyst estimates of $14.36 billion. During the same period last year, the firm earned $2.16 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 12.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, April 18th. Caterpillar’s dividend payout ratio (DPR) is 30.66%.
A number of equities research analysts recently weighed in on CAT shares. Robert W. Baird set a $161.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Tuesday, January 29th. Bank of America set a $152.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Tuesday, January 29th. Morgan Stanley set a $160.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Tuesday, January 29th. Credit Suisse Group reissued a “buy” rating and issued a $173.00 price target on shares of Caterpillar in a report on Thursday, February 14th. Finally, William Blair reissued a “hold” rating on shares of Caterpillar in a report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and an average target price of $146.71.
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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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