Caterpillar Inc. $CAT Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in Caterpillar Inc. by 12.4%, now holding approximately 326,603 shares valued at about $126.5 million.
• Caterpillar reported $4.72 earnings per share for the latest quarter, missing estimates, while revenue totaled $16.57 billion, surpassing expectations.
• The company announced a quarterly dividend of $1.51 per share, set to be paid on November 20th, with a current dividend yield of 1.1%.

DekaBank Deutsche Girozentrale trimmed its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 326,603 shares of the industrial products company's stock after selling 46,225 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.07% of Caterpillar worth $126,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Alexis Investment Partners LLC raised its holdings in shares of Caterpillar by 7.1% in the 2nd quarter. Alexis Investment Partners LLC now owns 3,118 shares of the industrial products company's stock valued at $1,202,000 after purchasing an additional 207 shares in the last quarter. Canvas Wealth Advisors LLC grew its position in shares of Caterpillar by 13.4% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 1,052 shares of the industrial products company's stock valued at $408,000 after buying an additional 124 shares during the last quarter. Princeton Global Asset Management LLC grew its position in shares of Caterpillar by 33.1% in the 2nd quarter. Princeton Global Asset Management LLC now owns 559 shares of the industrial products company's stock valued at $217,000 after buying an additional 139 shares during the last quarter. Schnieders Capital Management LLC grew its position in shares of Caterpillar by 3.9% in the 2nd quarter. Schnieders Capital Management LLC now owns 9,147 shares of the industrial products company's stock valued at $3,551,000 after buying an additional 347 shares during the last quarter. Finally, CORDA Investment Management LLC. grew its position in shares of Caterpillar by 10.2% in the 2nd quarter. CORDA Investment Management LLC. now owns 3,515 shares of the industrial products company's stock valued at $1,365,000 after buying an additional 324 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.9%

Shares of NYSE:CAT opened at $531.80 on Tuesday. The company has a market cap of $249.13 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.00 and a beta of 1.46. The firm's 50-day simple moving average is $455.85 and its 200-day simple moving average is $393.23. 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 Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $544.99.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.99 EPS. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders 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 annualized dividend and a dividend yield of 1.1%. Caterpillar's payout ratio is presently 30.72%.

Insider Activity

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar 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 sale, the director owned 6,917 shares of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. DA Davidson increased their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group increased their target price on shares of Caterpillar from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. Bank of America raised their price objective on shares of Caterpillar from $517.00 to $594.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Caterpillar in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $515.40.

Caterpillar Company Profile

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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