Envestnet Asset Management Inc. Has $22.46 Million Position in Caterpillar Inc. (NYSE:CAT)
Envestnet Asset Management Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 45.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,841 shares of the industrial products company's stock after selling 149,214 shares during the period. Envestnet Asset Management Inc.'s holdings in Caterpillar were worth $22,463,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Tortoise Investment Management LLC boosted its stake in Caterpillar by 3,600.0% in the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 180 shares during the last quarter. Prestige Wealth Management Group LLC bought a new position in shares of Caterpillar during the second quarter worth $27,000. G&S Capital LLC bought a new position in shares of Caterpillar during the third quarter worth $38,000. Kavar Capital Partners LLC bought a new position in shares of Caterpillar during the second quarter worth $46,000. Finally, Sound Income Strategies LLC boosted its position in shares of Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company's stock worth $52,000 after purchasing an additional 72 shares in the last quarter. 64.97% of the stock is owned by institutional investors and hedge funds.
In related news, General Counsel Suzette M. Long sold 5,019 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $126.34, for a total transaction of $634,100.46. Following the sale, the general counsel now directly owns 12,569 shares in the company, valued at $1,587,967.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.37% of the company's stock.
Shares of NYSE:CAT opened at $133.69 on Wednesday. Caterpillar Inc. has a 12 month low of $111.75 and a 12 month high of $144.77. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 1.66. The company's fifty day simple moving average is $126.61 and its 200 day simple moving average is $128.98. The firm has a market cap of $74.39 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.95 and a beta of 1.52.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing analysts' consensus estimates of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 11.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, October 18th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.08%. Caterpillar's payout ratio is 36.72%.
CAT has been the topic of a number of recent analyst reports. Cleveland Research reissued a "hold" rating on shares of Caterpillar in a research report on Monday, September 30th. Robert W. Baird reduced their price target on shares of Caterpillar from $161.00 to $155.00 and set an "outperform" rating on the stock in a research report on Thursday, July 25th. Bank of America reissued a "buy" rating and set a $145.00 price target (down from $150.00) on shares of Caterpillar in a research report on Monday, September 9th. Royal Bank of Canada reissued a "hold" rating on shares of Caterpillar in a research report on Wednesday, August 14th. Finally, Morgan Stanley cut shares of Caterpillar from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $150.00 to $145.00 in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of "Hold" and a consensus price target of $137.42.Caterpillar Profile
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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