Argyle Capital Management Inc. trimmed its position in Caterpillar Inc. (NYSE:CAT) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,765 shares of the industrial products company’s stock after selling 350 shares during the period. Argyle Capital Management Inc.’s holdings in Caterpillar were worth $2,766,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Schroder Investment Management Group boosted its stake in Caterpillar by 13.3% in the second quarter. Schroder Investment Management Group now owns 1,366,492 shares of the industrial products company’s stock valued at $185,884,000 after acquiring an additional 160,650 shares during the period. Fulton Bank N.A. acquired a new position in Caterpillar in the third quarter valued at approximately $727,000. Acropolis Investment Management LLC acquired a new position in Caterpillar in the third quarter valued at approximately $100,000. Intl Fcstone Inc. acquired a new position in Caterpillar in the third quarter valued at approximately $290,000. Finally, Franklin Street Advisors Inc. NC boosted its stake in Caterpillar by 12.7% in the third quarter. Franklin Street Advisors Inc. NC now owns 77,248 shares of the industrial products company’s stock valued at $11,780,000 after acquiring an additional 8,728 shares during the period. Institutional investors and hedge funds own 66.74% of the company’s stock.
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Several equities analysts have recently issued reports on CAT shares. Standpoint Research upgraded Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 price objective for the company in a research report on Wednesday, December 26th. JPMorgan Chase & Co. set a $188.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. UBS Group set a $160.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Morgan Stanley set a $169.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Finally, Citigroup reduced their price objective on Caterpillar from $175.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $152.59.
Shares of NYSE:CAT opened at $133.16 on Friday. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $165.79. The company has a market cap of $76.78 billion, a P/E ratio of 11.87, a PEG ratio of 0.56 and a beta of 1.46. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 1.78.
Caterpillar (NYSE:CAT) last announced its earnings results on Monday, January 28th. The industrial products company reported $2.55 EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $14.36 billion. During the same period in the previous year, the firm earned $2.16 EPS. Caterpillar’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 12.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 20th. Investors of record on Tuesday, January 22nd will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Friday, January 18th. This represents a $3.44 annualized dividend and a yield of 2.58%. Caterpillar’s payout ratio is 30.66%.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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