Utah Retirement Systems lowered its position in Caterpillar Inc. (NYSE:CAT) by 4.1% during the 1st quarter, HoldingsChannel reports. The fund owned 104,058 shares of the industrial products company’s stock after selling 4,500 shares during the period. Utah Retirement Systems’ holdings in Caterpillar were worth $24,128,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Camden National Bank grew its holdings in shares of Caterpillar by 9.6% in the fourth quarter. Camden National Bank now owns 1,833 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 160 shares during the last quarter. Berman Capital Advisors LLC grew its holdings in Caterpillar by 10.1% during the 4th quarter. Berman Capital Advisors LLC now owns 2,300 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 211 shares in the last quarter. Eaton Vance Management grew its holdings in Caterpillar by 8.3% during the 4th quarter. Eaton Vance Management now owns 1,182,397 shares of the industrial products company’s stock worth $215,220,000 after acquiring an additional 90,275 shares in the last quarter. Federated Hermes Inc. grew its holdings in Caterpillar by 65.6% during the 4th quarter. Federated Hermes Inc. now owns 14,967 shares of the industrial products company’s stock worth $2,724,000 after acquiring an additional 5,931 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in Caterpillar by 126.6% during the 4th quarter. ExodusPoint Capital Management LP now owns 16,607 shares of the industrial products company’s stock worth $3,023,000 after acquiring an additional 9,279 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.
In other Caterpillar news, Director David Maclennan bought 420 shares of the stock in a transaction on Wednesday, May 5th. The shares were bought at an average price of $237.86 per share, with a total value of $99,901.20. Following the purchase, the director now directly owns 890 shares in the company, valued at approximately $211,695.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph E. Creed sold 7,699 shares of Caterpillar stock in a transaction on Friday, June 4th. The stock was sold at an average price of $245.12, for a total transaction of $1,887,178.88. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.94. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11 billion. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 EPS. As a group, analysts predict that Caterpillar Inc. will post 9.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 20th. Investors of record on Tuesday, July 20th will be paid a $1.11 dividend. The ex-dividend date is Monday, July 19th. This represents a $4.44 dividend on an annualized basis and a yield of 2.12%. This is a boost from Caterpillar’s previous quarterly dividend of $1.03. Caterpillar’s dividend payout ratio (DPR) is currently 67.68%.
Several research analysts have issued reports on CAT shares. UBS Group increased their target price on shares of Caterpillar from $230.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, May 12th. BMO Capital Markets raised their price target on shares of Caterpillar from $190.00 to $230.00 and gave the company a “market perform” rating in a report on Friday, April 30th. Morgan Stanley raised their price target on shares of Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a report on Friday, April 30th. Zacks Investment Research cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 price target on the stock. in a report on Wednesday, June 30th. Finally, Stifel Nicolaus raised their price target on shares of Caterpillar from $222.00 to $245.00 and gave the company a “buy” rating in a report on Monday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $227.55.
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.
Read More: What Does An Overweight Rating Mean?
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).
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.