Economy

With Shares Trading up at $113.31 (CAT) Caterpillar Names General Counsel,…

Primecap Management Co. CA raised its stake in Caterpillar by 16.9% in the first quarter. (NYSE:CAT) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,757 shares of the industrial products company's stock after selling 8,455 shares during the period. Caterpillar comprises 1.7% of Anderson Hoagland & Co.'s portfolio, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Securities Usa Inc sold 21,375 shares as Caterpillar Inc Del (CAT)'s stock rose 3.62%. The Northwestern Mutual Wealth Management Company holds 37,277 shares with $3.46 million value, up from 27,933 last quarter. Integrated Investment Consultants LLC boosted its position in Caterpillar by 17.1% in the first quarter. Clearbridge Investments LLC increased its stake in shares of Caterpillar by 0.3% in the first quarter. Kessler Investment Group LLC boosted its position in shares of Caterpillar by 5.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 512,722 shares of the industrial products company's stock worth $47,559,000 after buying an additional 16,667 shares during the period. Reilly Financial Advisors LLC increased its stake in Caterpillar by 92.9% in the second quarter. Mutual of Omaha Bank Wealth Management now owns 4,725 shares of the industrial products company's stock valued at $439,000 after buying an additional 400 shares in the last quarter. It turned negative, as 75 investors sold CAT shares while 395 reduced holdings.

Caterpillar Inc. (Caterpillar), launched on March 12, 1986, is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Caterpillar (NYSE:CAT) traded down 0.27% during midday trading on Friday, reaching $112.85. The company had a trading volume of 883,547 shares. (NYSE:CAT). Vaughan David Investments Inc Il invested 1.35% in Caterpillar Inc. The stock is now 4.56% away from its 50-day simple moving average and 15.16% away from the 200 day average.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company's stock worth $673,351,000 after buying an additional 1,047,922 shares during the last quarter. The firm had revenue of $11.33 billion during the quarter, compared to analysts' expectations of $10.96 billion. The firm is yielding 0.10% return on assets and 0.80% return on equity. The company's quarterly revenue was up 9.6% compared to the same quarter previous year. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.26 by $0.23. Analysts anticipate that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.

The business also recently disclosed 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. The ex-dividend date will be on Tuesday the 18th of July 2017. This represents a $3.12 annualized dividend and a dividend yield of 2.76%.

More news: Colony Starwood Homes (SFR) Stake Increased by Loeb Partners Corp

On August 3, 2017 the stock rating was changed to a "Neutral" in a report from Atlantic Equities which was a boost from the previous "Underweight" rating. Caterpillar's dividend payout ratio (DPR) is 2,080.00%. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and worldwide trademark and copyright laws. The correct version of this article can be accessed at https://baseballnewssource.com/markets/broderick-brian-c-has-325000-position-in-caterpillar-inc-cat/1435099.html.

CAT has been the topic of several recent analyst reports. Capital One upgraded the stock to "Overweight" rating in Thursday, August 25 report. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the company a "buy" rating in a research note on Tuesday, June 20th. Argus reiterated a "buy" rating and set a $113.10 target price (down previously from $130.00) on shares of Caterpillar in a research report on Wednesday, August 2nd. The stock has "Neutral" rating by Citigroup on Wednesday, July 26.

On July 26 Citigroup left the company rating at "Neutral" and raised the price target from $82.00 to $125.00. (NYSE:CAT), 11 have Buy rating, 4 Sell and 12 Hold. The stock presently has a consensus rating of "Hold" and a consensus target price of $106.56.

In other news, insider Suzette M. Long sold 13,859 shares of the business's stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. Grantham Mayo Van Otterloo & Co Llc bought 132,966 shares as the company's stock declined 28.76% while stock markets rallied.

In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the firm's stock in a transaction that occurred on Thursday, July 27th. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,471 shares of company stock worth $22,979,332. The stock decreased 1.39% or $0.83 on August 10, reaching $59.07.



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