Pacific Wealth Strategies Group Inc. increased its holdings in Caterpillar Inc. (NYSE:CAT) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,421 shares of the industrial products company’s stock after buying an additional 143 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in Caterpillar were worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in CAT. Amundi bought a new position in Caterpillar in the second quarter valued at approximately $563,018,000. BlackRock Inc. grew its stake in shares of Caterpillar by 5.9% during the second quarter. BlackRock Inc. now owns 36,888,853 shares of the industrial products company’s stock worth $8,028,123,000 after buying an additional 2,064,453 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Caterpillar by 2.5% during the second quarter. Vanguard Group Inc. now owns 47,434,967 shares of the industrial products company’s stock worth $10,323,272,000 after buying an additional 1,165,504 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Caterpillar during the second quarter worth $226,940,000. Finally, Morgan Stanley grew its stake in shares of Caterpillar by 16.6% during the second quarter. Morgan Stanley now owns 5,070,449 shares of the industrial products company’s stock worth $1,103,482,000 after buying an additional 721,439 shares during the last quarter. 67.66% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on CAT. Morgan Stanley lifted their price target on shares of Caterpillar from $165.00 to $166.00 and gave the stock an “underweight” rating in a report on Friday, October 29th. Citigroup lifted their price target on shares of Caterpillar from $215.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, October 12th. Credit Suisse Group lifted their price target on shares of Caterpillar from $239.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, October 29th. Cowen started coverage on shares of Caterpillar in a report on Thursday, October 14th. They set an “outperform” rating and a $241.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Caterpillar from $258.00 to $241.00 and set a “buy” rating on the stock in a report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $234.05.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, October 28th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.40. Caterpillar had a net margin of 10.64% and a return on equity of 34.41%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $12.46 billion. During the same period in the prior year, the firm posted $1.34 EPS. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year. On average, analysts anticipate that Caterpillar Inc. will post 10.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, October 25th were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Friday, October 22nd. Caterpillar’s payout ratio is 47.49%.
In other news, insider Joseph E. Creed sold 5,038 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $204.09, for a total transaction of $1,028,205.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.
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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