Van Strum & Towne Inc. Purchases 155 Shares of Caterpillar, Inc. (CAT)
Van Strum & Towne Inc. boosted its position in shares of Caterpillar, Inc. (NYSE:CAT) by 6.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,469 shares of the industrial products company’s stock after buying an additional 155 shares during the period. Van Strum & Towne Inc.’s holdings in Caterpillar were worth $229,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Caterpillar by 25.8% in the fourth quarter. FMR LLC now owns 15,763,049 shares of the industrial products company’s stock worth $1,461,865,000 after buying an additional 3,228,098 shares in the last quarter. Holderness Investments Co. increased its stake in Caterpillar by 2.6% in the fourth quarter. Holderness Investments Co. now owns 11,174 shares of the industrial products company’s stock worth $1,036,000 after buying an additional 282 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Caterpillar during the fourth quarter worth about $5,334,000. Norges Bank purchased a new stake in Caterpillar during the fourth quarter worth about $414,361,000. Finally, Comerica Bank increased its stake in Caterpillar by 4.1% in the fourth quarter. Comerica Bank now owns 159,016 shares of the industrial products company’s stock worth $15,023,000 after buying an additional 6,328 shares in the last quarter. Institutional investors and hedge funds own 72.50% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE CAT) opened at 107.60 on Friday. The stock’s market capitalization is $63.39 billion. Caterpillar, Inc. has a one year low of $70.53 and a one year high of $107.91. The stock’s 50 day moving average price is $103.21 and its 200 day moving average price is $97.03.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, April 25th. The industrial products company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.66. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.27 billion. Caterpillar had a positive return on equity of 16.46% and a negative net margin of 0.38%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. Equities research analysts predict that Caterpillar, Inc. will post $4.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Tuesday, July 18th. This is an increase from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is -1,140.70%.
CAT has been the subject of a number of recent research reports. Credit Suisse Group set a $111.00 price target on Caterpillar and gave the company a “buy” rating in a research note on Monday, March 20th. Jefferies Group LLC restated a “hold” rating and set a $85.00 price target on shares of Caterpillar in a research note on Friday, March 3rd. Bank of America Corporation restated a “neutral” rating and set a $105.00 price target on shares of Caterpillar in a research note on Monday, March 6th. Zacks Investment Research downgraded Caterpillar from a “hold” rating to a “sell” rating in a research note on Wednesday, March 29th. Finally, Vetr upgraded Caterpillar from a “sell” rating to a “hold” rating and set a $89.96 price objective for the company in a research note on Monday, April 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $94.65.
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