Caterpillar Inc. (NYSE:CAT) shares have enjoyed a real renaissance over the past year, but one prominent hedge fund manager still isn't buying the construction and mining equipment maker's recovery. Parsec Financial Management Inc. now owns 3,898 shares of the company's stock valued at $346,000 after buying an additional 23 shares during the period.
Other large investors also recently made changes to their positions in the company.
Caterpillar Inc. shares were unchanged in premarket trading Wednesday.
Looking further out, over the past twelve months, Caterpillar Inc.'s stock was 60.76% and 21.78% over the last quarter and 32.08% for the past six months. Morgan Stanley now owns 10,398,677 shares of the industrial products company's stock valued at $964,579,000 after buying an additional 1,365,856 shares during the period. Clearbridge Investments LLC lifted its position in Caterpillar by 0.3% during the 1st quarter.
Maximum and minimum EPS estimate for the current quarter is projected at $1.49 and $1.12, respectively, according to 17 analysts. Toth Financial Advisory Corp lifted its position in Caterpillar by 0.3% during the 2nd quarter. American Money Management LLC now owns 3,838 shares of the company's stock valued at $291,000 after buying an additional 11 shares during the period.
Caterpillar, Inc. has a 52-week low of $56.36 and a 52-week high of $97.40.
RBC Capital bumped up the target of Caterpillar (NYSE:CAT) to $143.00 stating a potential upside of 0.03%. The firm's 50-day moving average is $94.40 and its 200 day moving average is $85.51. This is a plus for CAT stock by coming in well above Wall Street's earnings per share estimate of $1.27 for the quarter.
Third-quarter profit per share came in at $1.77, up drastically compared to $0.48 per share in the third quarter of 2016. Associated Banc holds 0.65% of its portfolio in Caterpillar Inc. (NYSE:CAT) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). During the same period past year, the firm posted $0.85 EPS. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. This is an increase over its earnings per share of 85 cents from the same time previous year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 18th. The ex-dividend date is Friday, October 20th. Caterpillar's dividend payout ratio is now 2,080.00%.
Caterpillar, Inc. (NYSE:CAT) had its price target upped by research analysts at Stifel Nicolaus from $125.00 to $145.00 in a report released on Wednesday. Vetr raised shares of Caterpillar from a "sell" rating to a "hold" rating and set a $90.02 target price on the stock in a report on Monday. Credit Suisse Group reissued a "buy" rating and issued a $123.00 price target on shares of Caterpillar in a research report on Wednesday, June 28th.
Robshaw & Julian Associates Inc. increased its stake in shares of Caterpillar, Inc. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The brokerage now has a "buy" rating on the industrial products company's stock. "(CAT) Price Target Increased to $145.00 by Analysts at Stifel Nicolaus" was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. The legal version of this piece can be accessed at https://www.truebluetribune.com/2017/10/25/caterpillars-cat-outperform-rating-reaffirmed-at-wells-fargo-company.html.
Among new and sold out positions, 120 holders initiated new positions by a total of 5.25 million shares and 59 holders exited their positions by a total of 1.72 million shares. (CAT)'s shares. The total value of these holdings, in millions, is $54,706.