HGK Asset Management Inc. boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,603 shares of the industrial products company’s stock after acquiring an additional 200 shares during the quarter. HGK Asset Management Inc.’s holdings in Caterpillar were worth $355,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp bought a new position in shares of Caterpillar during the 2nd quarter valued at $1,201,000. WBI Investments Inc. bought a new position in shares of Caterpillar during the 2nd quarter valued at $4,641,000. Sigma Investment Counselors Inc. lifted its holdings in shares of Caterpillar by 0.6% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 26,152 shares of the industrial products company’s stock valued at $3,564,000 after buying an additional 164 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Caterpillar by 1.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 81,308 shares of the industrial products company’s stock valued at $11,079,000 after buying an additional 1,209 shares during the period. Finally, Manchester Financial Inc. bought a new position in shares of Caterpillar during the 2nd quarter valued at $160,000. 65.80% of the stock is currently owned by institutional investors and hedge funds.

CAT stock traded down $1.53 during trading on Tuesday, reaching $132.93. The company’s stock had a trading volume of 1,560,646 shares, compared to its average volume of 4,003,783. Caterpillar Inc. has a 1 year low of $112.06 and a 1 year high of $159.37. 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 firm has a market cap of $76.01 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.94 and a beta of 1.54. The company has a fifty day moving average price of $133.79.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business had revenue of $14.43 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the previous year, the company posted $2.97 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 11.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.86. Caterpillar’s dividend payout ratio is presently 36.72%.

CAT has been the topic of several research analyst reports. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. Buckingham Research upped their price objective on Allegiant Travel from $186.00 to $191.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Credit Suisse Group set a GBX 3,090 ($40.38) price objective on Royal Dutch Shell and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Robert W. Baird initiated coverage on Cue Biopharma in a research note on Thursday, July 25th. They issued an “outperform” rating and a $13.00 price objective for the company. Finally, Standpoint Research upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Caterpillar has an average rating of “Hold” and an average target price of $144.72.

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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