Biechele Royce Advisors Acquires 323 Shares of Caterpillar Inc. (NYSE:CAT)

Biechele Royce Advisors grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,150 shares of the industrial products company’s stock after purchasing an additional 323 shares during the period. Caterpillar comprises approximately 1.9% of Biechele Royce Advisors’ portfolio, making the stock its 23rd biggest position. Biechele Royce Advisors’ holdings in Caterpillar were worth $3,055,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Oak Asset Management LLC boosted its holdings in Caterpillar by 1.1% in the 2nd quarter. Oak Asset Management LLC now owns 7,447 shares of the industrial products company’s stock valued at $942,000 after purchasing an additional 83 shares during the period. Coastal Investment Advisors Inc. increased its position in shares of Caterpillar by 2.7% during the second quarter. Coastal Investment Advisors Inc. now owns 3,389 shares of the industrial products company’s stock valued at $429,000 after buying an additional 88 shares during the period. Domani Wealth LLC grew its position in shares of Caterpillar by 3.8% in the 1st quarter. Domani Wealth LLC now owns 2,493 shares of the industrial products company’s stock worth $289,000 after buying an additional 91 shares during the period. Trust Co. of Toledo NA OH raised its position in shares of Caterpillar by 1.3% in the 1st quarter. Trust Co. of Toledo NA OH now owns 7,481 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 93 shares during the last quarter. Finally, TAP Consulting LLC increased its holdings in shares of Caterpillar by 4.5% in the 1st quarter. TAP Consulting LLC now owns 2,165 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 93 shares in the last quarter. 66.80% of the stock is owned by institutional investors.

Several brokerages recently issued reports on CAT. Bank of America upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating and set a $135.00 target price for the company in a research report on Wednesday, July 8th. JPMorgan Chase & Co. set a $150.00 price target on Caterpillar and gave the company a “buy” rating in a report on Tuesday, April 28th. Goldman Sachs Group set a $144.00 target price on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Deutsche Bank raised Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the company from $126.50 to $166.00 in a research note on Tuesday, June 30th. Finally, Zacks Investment Research lowered shares of Caterpillar from a “hold” rating to a “strong sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and an average price target of $135.22.

NYSE CAT traded down $3.85 during trading on Friday, hitting $132.88. The stock had a trading volume of 6,782,180 shares, compared to its average volume of 2,742,059. The company has a market capitalization of $71.92 billion, a PE ratio of 14.08, a PEG ratio of 2.20 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $87.50 and a twelve month high of $150.55. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 1.71. The firm has a 50 day moving average price of $129.98 and a 200 day moving average price of $123.93.

Caterpillar (NYSE:CAT) last released its earnings results on Friday, July 31st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.37. Caterpillar had a net margin of 10.41% and a return on equity of 37.15%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period in the prior year, the business earned $2.83 EPS. The firm’s quarterly revenue was down 30.7% on a year-over-year basis. On average, sell-side analysts anticipate that Caterpillar Inc. will post 5.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, July 20th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.12 annualized dividend and a yield of 3.10%. Caterpillar’s dividend payout ratio (DPR) is 37.25%.

Caterpillar Profile

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.

Featured Article: Understanding the Price to Earnings Ratio (PE)

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.