Asset Management One Co. Ltd. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 292,154 shares of the industrial products company's stock after selling 26,721 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of Caterpillar worth $113,417,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $579,000. Brighton Jones LLC lifted its stake in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after purchasing an additional 2,519 shares during the period. GAMMA Investing LLC lifted its stake in shares of Caterpillar by 32.0% in the 1st quarter. GAMMA Investing LLC now owns 11,311 shares of the industrial products company's stock valued at $3,730,000 after purchasing an additional 2,745 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of Caterpillar by 3.9% in the 1st quarter. GHP Investment Advisors Inc. now owns 2,287 shares of the industrial products company's stock valued at $754,000 after purchasing an additional 85 shares during the period. Finally, AssuredPartners Investment Advisors LLC lifted its stake in shares of Caterpillar by 8.1% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 738 shares of the industrial products company's stock valued at $244,000 after purchasing an additional 55 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Caterpillar
In related news, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman directly owned 448,173 shares of the company's stock, valued at $226,457,335.17. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by company insiders.
Caterpillar Price Performance
Caterpillar stock opened at $520.40 on Friday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $544.99. The firm has a market capitalization of $243.80 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.93 and a beta of 1.46. The company has a fifty day simple moving average of $462.16 and a 200-day simple moving average of $396.63. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.
Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the prior year, the company posted $5.99 EPS. The company's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.
Caterpillar Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar's dividend payout ratio is currently 30.72%.
Analyst Upgrades and Downgrades
CAT has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Caterpillar from $450.00 to $506.00 and gave the stock a "neutral" rating in a research report on Monday, October 13th. Jefferies Financial Group upped their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Weiss Ratings restated a "buy (b)" rating on shares of Caterpillar in a research report on Tuesday, October 14th. Citigroup upped their price objective on shares of Caterpillar from $540.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Finally, Truist Financial upped their price objective on shares of Caterpillar from $507.00 to $582.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $518.19.
View Our Latest Analysis on CAT
Caterpillar Profile
(
Free Report)
Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
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