Nomura Asset Management Co. Ltd. decreased its position in Caterpillar Inc. (NYSE:CAT) by 38.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,497 shares of the industrial products company’s stock after selling 103,865 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Caterpillar were worth $19,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Wealth Quarterback LLC bought a new stake in Caterpillar in the 4th quarter worth approximately $14,912,310,000. Fisher Asset Management LLC increased its stake in Caterpillar by 1.1% in the 1st quarter. Fisher Asset Management LLC now owns 5,609,147 shares of the industrial products company’s stock worth $650,885,000 after purchasing an additional 62,036 shares during the period. Norges Bank purchased a new position in Caterpillar in the 4th quarter worth approximately $754,296,000. Bank of New York Mellon Corp increased its stake in Caterpillar by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 4,799,963 shares of the industrial products company’s stock worth $556,986,000 after purchasing an additional 19,753 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in Caterpillar by 3.3% in the 1st quarter. Nuveen Asset Management LLC now owns 3,885,473 shares of the industrial products company’s stock worth $450,871,000 after purchasing an additional 122,862 shares during the period. Institutional investors own 64.07% of the company’s stock.
CAT traded down $9.27 during midday trading on Thursday, reaching $123.17. The company had a trading volume of 3,684,530 shares, compared to its average volume of 4,742,300. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 1.71. The business has a 50-day moving average of $116.07 and a two-hundred day moving average of $127.95. The company has a market cap of $71.68 billion, a P/E ratio of 14.03, a P/E/G ratio of 2.28 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $87.50 and a 1 year high of $150.55.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, April 28th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.09). Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.98 billion. During the same quarter in the prior year, the business posted $2.94 EPS. The business’s revenue for the quarter was down 21.0% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 4.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 20th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.34%. Caterpillar’s dividend payout ratio is currently 37.25%.
Several research firms have recently issued reports on CAT. Goldman Sachs Group set a $144.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, April 28th. Standpoint Research cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group upped their price target on Caterpillar from $112.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday. Stephens reduced their price target on Caterpillar from $100.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. Finally, Wells Fargo & Co reduced their price target on Caterpillar from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $128.58.
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.
Further Reading: Quiet Period Expirations
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