Baird Financial Group Inc. decreased its stake in Caterpillar, Inc. (NYSE:CAT) by 24.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 166,119 shares of the industrial products company’s stock after selling 52,629 shares during the period. Baird Financial Group Inc.’s holdings in Caterpillar were worth $15,409,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in CAT. Howe & Rusling Inc. boosted its stake in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock valued at $101,000 after buying an additional 372 shares during the period. First Personal Financial Services boosted its stake in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the period. Financial Architects Inc boosted its stake in Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after buying an additional 65 shares during the period. Advantage Investment Management LLC purchased a new stake in Caterpillar during the fourth quarter valued at about $125,000. Finally, Ledyard National Bank boosted its stake in Caterpillar by 145.7% in the first quarter. Ledyard National Bank now owns 1,425 shares of the industrial products company’s stock valued at $132,000 after buying an additional 845 shares during the period. 70.68% of the stock is owned by institutional investors and hedge funds.
Caterpillar, Inc. (NYSE:CAT) opened at 106.92 on Monday. The firm’s market capitalization is $62.99 billion. The stock’s 50 day moving average is $104.38 and its 200-day moving average is $97.66. Caterpillar, Inc. has a 52 week low of $75.78 and a 52 week high of $108.18.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.66. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.27 billion. Caterpillar had a negative net margin of 0.38% and a positive return on equity of 16.46%. Caterpillar’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.67 EPS. On average, equities research analysts expect that Caterpillar, Inc. will post $4.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be given a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, July 18th. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 2.92%. Caterpillar’s dividend payout ratio (DPR) is currently -1,140.70%.
A number of brokerages recently weighed in on CAT. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Monday, April 10th. Deutsche Bank AG reduced their price target on shares of Caterpillar from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 6th. Credit Suisse Group set a $111.00 price target on shares of Caterpillar and gave the company a “buy” rating in a research report on Monday, March 20th. Raymond James Financial, Inc. raised shares of Caterpillar to a “buy” rating and set a $55.00 price target for the company in a research report on Thursday, April 27th. Finally, Vetr raised shares of Caterpillar from a “sell” rating to a “buy” rating and set a $107.75 price target for the company in a research report on Monday, May 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $96.71.
Caterpillar Company Profile
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