German American Bancorp Inc. lifted its position in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,124 shares of the industrial products company’s stock after purchasing an additional 197 shares during the quarter. Caterpillar accounts for 1.1% of German American Bancorp Inc.’s portfolio, making the stock its 27th largest position. German American Bancorp Inc.’s holdings in Caterpillar were worth $6,977,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BCK Partners Inc. acquired a new stake in shares of Caterpillar in the 1st quarter valued at about $2,580,000. Sei Investments Co. lifted its position in shares of Caterpillar by 17.3% in the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after buying an additional 9,695 shares during the last quarter. Dakota Wealth Management bought a new position in Caterpillar during the first quarter worth $405,000. Mather Group LLC. boosted its holdings in shares of Caterpillar by 6.8% during the 1st quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after buying an additional 165 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Caterpillar by 4.4% during the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after purchasing an additional 2,076 shares during the period. 68.02% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. Stifel Nicolaus upped their price target on shares of Caterpillar from $273.00 to $275.00 in a report on Monday, May 1st. UBS Group lowered their price objective on shares of Caterpillar from $210.00 to $208.00 in a research report on Friday, April 28th. Tigress Financial upped their price objective on shares of Caterpillar from $266.00 to $282.00 in a research report on Wednesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Caterpillar from $228.00 to $225.00 and set a “hold” rating for the company in a research report on Wednesday, April 12th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average target price of $239.83.
Caterpillar Trading Down 0.8 %
Caterpillar (NYSE:CAT – Get Rating) last issued its earnings results on Thursday, April 27th. The industrial products company reported $4.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $1.12. The business had revenue of $15.86 billion for the quarter, compared to analyst estimates of $15.27 billion. Caterpillar had a net margin of 11.52% and a return on equity of 50.98%. Caterpillar’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 earnings per share. On average, sell-side analysts predict that Caterpillar Inc. will post 17.64 EPS for the current year.
Caterpillar Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Thursday, July 20th will be paid a dividend of $1.30 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.20. This represents a $5.20 annualized dividend and a yield of 2.14%. Caterpillar’s dividend payout ratio is currently 35.48%.
About Caterpillar
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.
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