HighTower Advisors LLC Grows Stake in Caterpillar Inc. (NYSE:CAT)

HighTower Advisors LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,168 shares of the industrial products company’s stock after purchasing an additional 15,994 shares during the period. HighTower Advisors LLC owned approximately 0.06% of Caterpillar worth $36,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in Caterpillar by 574.9% in the fourth quarter. Acadian Asset Management LLC now owns 3,651 shares of the industrial products company’s stock worth $539,000 after acquiring an additional 3,110 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Caterpillar by 46.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,578 shares of the industrial products company’s stock worth $824,000 after acquiring an additional 1,772 shares in the last quarter. Natixis Advisors L.P. grew its position in Caterpillar by 12.6% in the fourth quarter. Natixis Advisors L.P. now owns 81,120 shares of the industrial products company’s stock worth $11,980,000 after acquiring an additional 9,099 shares in the last quarter. BerganKDV Wealth Management LLC grew its position in Caterpillar by 88.5% in the fourth quarter. BerganKDV Wealth Management LLC now owns 575 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 270 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its position in Caterpillar by 30.9% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,384 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 64.07% of the company’s stock.

Several brokerages recently issued reports on CAT. UBS Group upped their target price on shares of Caterpillar from $112.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Zacks Investment Research lowered shares of Caterpillar from a “hold” rating to a “sell” rating and set a $106.00 target price for the company. in a research report on Wednesday, March 18th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and set a $93.00 price target for the company. in a research note on Monday, April 27th. Stifel Nicolaus raised shares of Caterpillar from a “hold” rating to a “buy” rating and lowered their price target for the stock from $140.00 to $137.00 in a research note on Monday, March 16th. Finally, Standpoint Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $130.68.

CAT stock traded up $0.46 during trading on Tuesday, reaching $126.25. The company had a trading volume of 2,109,939 shares, compared to its average volume of 4,710,003. Caterpillar Inc. has a 52 week low of $87.50 and a 52 week high of $150.55. The company has a market cap of $68.53 billion, a P/E ratio of 13.39, a PEG ratio of 2.15 and a beta of 1.10. The business has a 50 day moving average of $119.01 and a 200 day moving average of $126.85. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.42 and a quick ratio of 0.97.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.09). Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.98 billion. During the same period in the previous year, the company earned $2.94 earnings per share. Caterpillar’s quarterly revenue was down 21.0% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 4.94 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 20th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, July 17th. Caterpillar’s payout ratio is currently 37.25%.

About Caterpillar

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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