Caterpillar Inc. (CAT) Stake Cut by Granite Investment Advisors Inc.
Granite Investment Advisors Inc. decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,685 shares of the company’s stock after selling 1,825 shares during the period. Caterpillar accounts for about 1.4% of Granite Investment Advisors Inc.’s investment portfolio, making the stock its 27th largest position. Granite Investment Advisors Inc.’s holdings in Caterpillar were worth $6,719,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. increased its stake in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock worth $100,000 after buying an additional 25 shares during the last quarter. Quadrant Capital Group LLC increased its position in Caterpillar by 5.3% in the third quarter. Quadrant Capital Group LLC now owns 1,282 shares of the company’s stock valued at $106,000 after buying an additional 65 shares in the last quarter. Enterprise Financial Services Corp increased its position in Caterpillar by 7.0% in the third quarter. Enterprise Financial Services Corp now owns 1,204 shares of the company’s stock valued at $107,000 after buying an additional 79 shares in the last quarter. Integrated Wealth Management increased its position in Caterpillar by 34.6% in the third quarter. Integrated Wealth Management now owns 1,246 shares of the company’s stock valued at $111,000 after buying an additional 320 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Caterpillar by 266.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,513 shares of the company’s stock valued at $115,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) traded down 0.91% during trading on Tuesday, reaching $94.04. The company had a trading volume of 2,910,775 shares. Caterpillar Inc. has a 12-month low of $56.36 and a 12-month high of $96.44. The stock has a market capitalization of $55.02 billion, a P/E ratio of 91.48 and a beta of 1.30. The stock has a 50 day moving average of $88.34 and a 200-day moving average of $81.73.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 25th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.09. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.91 billion. Caterpillar had a net margin of 2.54% and a return on equity of 12.79%. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. On average, analysts forecast that Caterpillar Inc. will post $3.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, November 19th. Stockholders of record on Monday, October 24th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 179.07%.
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Several research firms have recently commented on CAT. Jefferies Group reiterated a “hold” rating on shares of Caterpillar in a report on Wednesday, August 3rd. Barclays PLC lifted their price objective on Caterpillar from $78.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 12th. Vetr downgraded Caterpillar from a “hold” rating to a “sell” rating and set a $82.00 price objective on the stock. in a report on Tuesday, November 8th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Tuesday, August 30th. Finally, Deutsche Bank AG began coverage on Caterpillar in a report on Tuesday, September 6th. They issued a “buy” rating and a $72.56 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $78.07.
In other news, Director Daniel M. Dickinson sold 950 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $93.52, for a total transaction of $88,844.00. Following the transaction, the director now directly owns 17,476 shares of the company’s stock, valued at $1,634,355.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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