105,456 Shares in Caterpillar Inc. (CAT) Purchased by Arnhold LLC

Arnhold LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 105,456 shares of the industrial products company’s stock, valued at approximately $6,395,000. Caterpillar comprises approximately 1.2% of Arnhold LLC’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vicus Capital boosted its stake in Caterpillar by 8.2% during the first quarter. Vicus Capital now owns 4,462 shares of the industrial products company’s stock worth $658,000 after buying an additional 338 shares during the last quarter. Covington Capital Management raised its position in Caterpillar by 14.5% in the fourth quarter. Covington Capital Management now owns 2,690 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 340 shares during the period. RiverPoint Capital Management LLC raised its position in Caterpillar by 13.1% in the fourth quarter. RiverPoint Capital Management LLC now owns 2,980 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 344 shares during the period. Wade G W & Inc. raised its position in Caterpillar by 12.4% in the first quarter. Wade G W & Inc. now owns 3,138 shares of the industrial products company’s stock valued at $462,000 after purchasing an additional 345 shares during the period. Finally, Bridges Investment Management Inc. raised its position in Caterpillar by 7.4% in the fourth quarter. Bridges Investment Management Inc. now owns 5,096 shares of the industrial products company’s stock valued at $803,000 after purchasing an additional 350 shares during the period. 66.86% of the stock is currently owned by institutional investors.

CAT has been the topic of a number of research analyst reports. Vetr upgraded Caterpillar from a “buy” rating to a “strong-buy” rating and set a $170.44 target price on the stock in a research report on Monday, February 5th. Argus lifted their target price on Caterpillar from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 1st. TheStreet downgraded Caterpillar from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Zacks Investment Research upgraded Caterpillar from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. Finally, Morgan Stanley initiated coverage on Caterpillar in a research report on Friday, March 2nd. They issued an “overweight” rating and a $185.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $172.55.

In related news, Director David L. Calhoun purchased 5,000 shares of the business’s stock in a transaction on Monday, May 14th. The shares were bought at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the acquisition, the director now directly owns 19,579 shares in the company, valued at $3,041,989.23. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph E. Creed sold 4,532 shares of the company’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $155.67, for a total value of $705,496.44. Following the sale, the chief financial officer now owns 2,554 shares in the company, valued at approximately $397,581.18. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

Shares of Caterpillar opened at $151.91 on Friday, according to Marketbeat.com. 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 Inc. has a 1-year low of $102.30 and a 1-year high of $173.24. The stock has a market cap of $91.86 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.08 and a beta of 1.31.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.71. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. The company had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.99 billion. During the same quarter in the prior year, the business earned $1.28 EPS. Caterpillar’s revenue was up 30.9% on a year-over-year basis. research analysts expect that Caterpillar Inc. will post 10.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, May 19th. Shareholders of record on Monday, April 23rd were issued a dividend of $0.78 per share. The ex-dividend date was Friday, April 20th. This represents a $3.12 annualized dividend and a yield of 2.05%. Caterpillar’s dividend payout ratio (DPR) is 45.35%.

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.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply