Nicholas Hoffman & Company LLC. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 13,040 shares of the industrial products company’s stock after buying an additional 349 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Caterpillar were worth $1,513,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Wealth Quarterback LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at about $14,912,310,000. Norges Bank purchased a new position in shares of Caterpillar in the 4th quarter valued at about $754,296,000. FMR LLC increased its stake in shares of Caterpillar by 165.3% in the 4th quarter. FMR LLC now owns 3,768,557 shares of the industrial products company’s stock valued at $556,540,000 after purchasing an additional 2,347,888 shares in the last quarter. American International Group Inc. increased its stake in shares of Caterpillar by 702.9% in the 4th quarter. American International Group Inc. now owns 2,510,280 shares of the industrial products company’s stock valued at $370,718,000 after purchasing an additional 2,197,615 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in shares of Caterpillar by 14.6% in the 4th quarter. Sanders Capital LLC now owns 7,156,246 shares of the industrial products company’s stock valued at $1,197,656,000 after purchasing an additional 909,436 shares in the last quarter. Institutional investors and hedge funds own 64.31% of the company’s stock.
Several equities analysts recently weighed in on CAT shares. Bank of America cut their price target on Caterpillar from $115.00 to $100.00 and set an “underperform” rating for the company in a research note on Wednesday, April 29th. Stifel Nicolaus upgraded Caterpillar from a “hold” rating to a “buy” rating and cut their price target for the company from $140.00 to $137.00 in a research note on Monday, March 16th. Cfra cut their price target on Caterpillar from $120.00 to $101.00 and set a “sell” rating for the company in a research note on Tuesday, April 28th. Goldman Sachs Group set a $144.00 price target on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Royal Bank of Canada lowered their price objective on Caterpillar from $152.00 to $145.00 and set a “positive” rating on the stock in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $127.63.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.09). The company had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.98 billion. Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. The company’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.94 earnings per share. Research analysts forecast that Caterpillar Inc. will post 4.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Monday, April 20th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, April 17th. Caterpillar’s dividend payout ratio is currently 37.25%.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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