OppenheimerFunds Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 58.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,653 shares of the industrial products company’s stock after selling 245,295 shares during the quarter. OppenheimerFunds Inc.’s holdings in Caterpillar were worth $25,446,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CAT. BlackRock Inc. raised its stake in Caterpillar by 6.5% during the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after acquiring an additional 2,297,750 shares in the last quarter. Prudential Financial Inc. grew its position in Caterpillar by 99.6% during the 1st quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products company’s stock worth $293,415,000 after purchasing an additional 993,438 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Caterpillar during the 4th quarter worth $148,604,000. Fred Alger Management Inc. purchased a new position in Caterpillar during the 4th quarter worth $103,179,000. Finally, TIAA CREF Investment Management LLC grew its position in Caterpillar by 17.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock worth $635,902,000 after purchasing an additional 607,875 shares during the last quarter. Hedge funds and other institutional investors own 66.86% of the company’s stock.
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CAT stock opened at $155.32 on Friday. The stock has a market cap of $93.45 billion, a P/E ratio of 22.58, a P/E/G ratio of 1.10 and a beta of 1.32. Caterpillar Inc. has a 52 week low of $102.30 and a 52 week high of $173.24. The company has a current ratio of 1.36, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.71. The firm had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.99 billion. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The firm’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. equities analysts predict that Caterpillar Inc. will post 10.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, May 19th. Shareholders of record on Monday, April 23rd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, April 20th. Caterpillar’s payout ratio is currently 45.35%.
CAT has been the topic of several research reports. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $166.15 price objective on the stock. in a research report on Monday, February 19th. Zacks Investment Research raised shares of Caterpillar from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. Morgan Stanley initiated coverage on shares of Caterpillar in a research report on Friday, March 2nd. They set an “overweight” rating and a $185.00 price objective on the stock. OTR Global raised shares of Caterpillar to a “positive” rating in a research report on Monday, April 9th. Finally, UBS Group set a $190.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $172.55.
In other Caterpillar news, Director David L. Calhoun bought 5,000 shares of the business’s stock in a transaction on Monday, May 14th. The stock was bought at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the completion of the transaction, the director now owns 19,579 shares in the company, valued at approximately $3,041,989.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas A. Pellette sold 54,481 shares of Caterpillar stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $150.17, for a total transaction of $8,181,411.77. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
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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