Cascade Investment Advisors Inc. Grows Position in Caterpillar Inc. (NYSE:CAT)

Cascade Investment Advisors Inc. grew its stake in Caterpillar Inc. (NYSE:CATGet Rating) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,708 shares of the industrial products company’s stock after purchasing an additional 315 shares during the period. Cascade Investment Advisors Inc.’s holdings in Caterpillar were worth $1,594,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Glenview Trust Co boosted its position in Caterpillar by 1.7% in the 3rd quarter. Glenview Trust Co now owns 136,748 shares of the industrial products company’s stock worth $26,252,000 after purchasing an additional 2,345 shares in the last quarter. Teamwork Financial Advisors LLC boosted its position in Caterpillar by 358.5% in the 4th quarter. Teamwork Financial Advisors LLC now owns 9,432 shares of the industrial products company’s stock worth $1,950,000 after purchasing an additional 7,375 shares in the last quarter. Park National Corp OH boosted its position in Caterpillar by 7.5% in the 4th quarter. Park National Corp OH now owns 8,981 shares of the industrial products company’s stock worth $1,857,000 after purchasing an additional 630 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of Caterpillar by 1.6% during the 3rd quarter. Ensign Peak Advisors Inc now owns 173,426 shares of the industrial products company’s stock valued at $33,292,000 after buying an additional 2,786 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Caterpillar by 7.9% during the 4th quarter. Baird Financial Group Inc. now owns 762,198 shares of the industrial products company’s stock valued at $157,577,000 after buying an additional 55,604 shares in the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.

In other news, General Counsel Suzette M. Long sold 40,356 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $220.00, for a total transaction of $8,878,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan purchased 600 shares of the stock in a transaction dated Thursday, May 5th. The shares were acquired at an average price of $219.82 per share, with a total value of $131,892.00. Following the completion of the acquisition, the director now owns 2,480 shares in the company, valued at approximately $545,153.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 49,850 shares of company stock valued at $11,087,916. Company insiders own 0.18% of the company’s stock.

CAT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, March 28th. Tigress Financial increased their target price on Caterpillar from $270.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on Caterpillar from $250.00 to $240.00 in a research report on Friday, April 29th. Wells Fargo & Company started coverage on Caterpillar in a research report on Friday, March 11th. They set an “equal weight” rating and a $231.00 target price on the stock. Finally, Jefferies Financial Group raised Caterpillar from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $260.00 in a research note on Tuesday, March 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $241.20.

Shares of CAT traded up $1.30 during midday trading on Friday, reaching $204.33. The company had a trading volume of 2,323,800 shares, compared to its average volume of 3,298,191. Caterpillar Inc. has a 1-year low of $179.67 and a 1-year high of $246.69. The stock has a market cap of $108.98 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.36 and a beta of 0.94. The firm has a 50 day simple moving average of $217.68 and a 200-day simple moving average of $209.25. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48.

Caterpillar (NYSE:CATGet Rating) last issued its earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.28. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.49 billion. During the same period last year, the company earned $2.87 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 12.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Monday, April 25th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, April 22nd. Caterpillar’s dividend payout ratio is presently 37.22%.

Caterpillar Company Profile (Get Rating)

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.

See Also

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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