Sound View Wealth Advisors LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 31.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,855 shares of the industrial products company’s stock after purchasing an additional 1,391 shares during the quarter. Sound View Wealth Advisors LLC’s holdings in Caterpillar were worth $793,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of CAT. Loeb Partners Corp bought a new stake in Caterpillar during the 4th quarter worth approximately $25,000. Clarfeld Financial Advisors LLC bought a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Paragon Capital Management LLC bought a new stake in Caterpillar during the 1st quarter worth approximately $40,000. PRW Wealth Management LLC bought a new stake in Caterpillar during the 4th quarter worth approximately $43,000. Finally, Legacy Advisors LLC bought a new stake in Caterpillar during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 65.45% of the company’s stock.
A number of equities research analysts have weighed in on the stock. UBS Group reduced their target price on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a report on Tuesday, April 2nd. Bank of America set a $152.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research note on Thursday, April 4th. Macquarie set a $115.00 price objective on shares of Caterpillar and gave the company a “sell” rating in a research note on Tuesday, June 11th. Finally, Standpoint Research raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and a consensus price target of $145.39.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.10. The company had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. As a group, equities analysts forecast that Caterpillar Inc. will post 12.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.12 annualized dividend and a yield of 3.02%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. Caterpillar’s dividend payout ratio is presently 30.66%.
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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