Pillar Pacific Capital Management LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 62,466 shares of the industrial products company’s stock after buying an additional 920 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Caterpillar were worth $5,794,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Garde Capital Inc. boosted its position in Caterpillar by 3.6% in the third quarter. Garde Capital Inc. now owns 7,237 shares of the industrial products company’s stock worth $473,000 after buying an additional 250 shares during the period. Gerstein Fisher boosted its position in Caterpillar by 5.4% in the third quarter. Gerstein Fisher now owns 3,514 shares of the industrial products company’s stock worth $312,000 after buying an additional 180 shares during the period. Laurel Wealth Advisors Inc. bought a new position in Caterpillar during the third quarter worth $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Caterpillar during the third quarter worth $3,258,000. Finally, PVG Asset Management Corp bought a new position in Caterpillar during the third quarter worth $2,577,000. 70.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Caterpillar Inc. (NYSE:CAT) opened at 105.20 on Tuesday. The stock has a 50 day moving average price of $101.21 and a 200 day moving average price of $96.34. Caterpillar Inc. has a 12 month low of $70.53 and a 12 month high of $107.17. The stock’s market cap is $61.97 billion.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, April 25th. The industrial products company reported $1.28 EPS for the quarter, topping 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 0.17% and a positive return on equity of 13.44%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. Equities analysts anticipate that Caterpillar Inc. will post $4.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, May 20th. Shareholders of record on Monday, April 24th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, April 20th. Caterpillar’s payout ratio is -2,369.23%. A number of equities analysts have recently weighed in on CAT shares. Vetr raised Caterpillar from a “sell” rating to a “buy” rating and set a $98.27 price target for the company in a report on Tuesday, February 7th. Goldman Sachs Group Inc raised Caterpillar from a “buy” rating to a “conviction-buy” rating and set a $120.00 price target for the company in a report on Tuesday, April 4th. Stifel Nicolaus cut their price target on Caterpillar from $111.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 26th. Barclays PLC raised Caterpillar from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $110.00 in a report on Tuesday, February 7th. Finally, Bank of America Corp reissued a “neutral” rating and issued a $105.00 price target on shares of Caterpillar in a report on Monday, March 6th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $94.65.
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