Posted by admin on Aug 10th, 2022
Los Angeles Capital Management LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 88.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,839 shares of the industrial products company’s stock after buying an additional 4,606 shares during the period. Los Angeles Capital Management LLC’s holdings in Caterpillar were worth $2,192,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CAT. Crewe Advisors LLC increased its stake in Caterpillar by 322.6% during the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Nauset Wealth Management. LLC purchased a new stake in Caterpillar during the 1st quarter worth approximately $29,000. Arcadia Investment Management Corp MI purchased a new stake in Caterpillar during the 1st quarter worth approximately $33,000. Sierra Capital LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $38,000. Finally, IMA Wealth Inc. purchased a new stake in Caterpillar during the 4th quarter worth approximately $41,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Joseph E. Creed sold 2,757 shares of the company’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total transaction of $590,356.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.
Shares of NYSE CAT opened at $186.03 on Wednesday. The firm has a market cap of $98.21 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.22 and a beta of 1.01. The company has a quick ratio of 0.90, a current ratio of 1.45 and a debt-to-equity ratio of 1.66. Caterpillar Inc. has a 52-week low of $167.08 and a 52-week high of $237.90. The business’s 50 day moving average is $190.46 and its two-hundred day moving average is $203.38.
Caterpillar (NYSE:CAT – Get Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.17. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.39 billion. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.60 earnings per share. Research analysts predict that Caterpillar Inc. will post 12.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Wednesday, July 20th will be given a $1.20 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $4.80 dividend on an annualized basis and a yield of 2.58%. Caterpillar’s payout ratio is presently 38.40%.
Several brokerages have recently weighed in on CAT. Citigroup boosted their target price on Caterpillar to $195.00 in a report on Tuesday. Credit Suisse Group boosted their target price on Caterpillar from $226.00 to $236.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Morgan Stanley lowered their target price on Caterpillar from $161.00 to $142.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. Deutsche Bank Aktiengesellschaft lowered their target price on Caterpillar from $240.00 to $227.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Finally, Cowen lowered their target price on Caterpillar from $255.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $223.38.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT – Get Rating).
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.
Los Angeles Capital Management LLC Acquires New Shares in Synovus Financial Corp. (NYSE:SNV)
Great Lakes Advisors LLC Buys Shares of 16,930 Starwood Property Trust, Inc. (NYSE:STWD)