Caterpillar Inc. $CAT Shares Sold by Jackson Square Capital LLC

Key Points

• Jackson Square Capital reduced its Caterpillar stake by 9.8% in the third quarter, selling 1,529 shares and retaining 14,017 shares valued at approximately $11.4 million. Institutional investors collectively own 70.98% of CAT.
• Analysts maintain a generally positive outlook, with Caterpillar receiving a consensus “Moderate Buy” rating and an average price target of $967.83. Fifteen analysts rate the stock a Buy, while twelve recommend Hold.
• Caterpillar reported quarterly EPS of $8.17, beating estimates by $1.95, while revenue rose 23.7% year over year to $20.54 billion. CEO Joseph Creed separately sold 32,401 shares worth about $26.2 million, and the company declared a quarterly dividend of $1.63 per share.

Jackson Square Capital LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,017 shares of the industrial products company's stock after selling 1,529 shares during the quarter. Caterpillar accounts for about 1.7% of Jackson Square Capital LLC's investment portfolio, making the stock its 16th largest holding. Jackson Square Capital LLC's holdings in Caterpillar were worth $11,365,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CAT. Lam Group Inc. bought a new position in shares of Caterpillar in the 1st quarter worth about $26,000. Decker Retirement Planning Inc. grew its position in shares of Caterpillar by 440.0% during the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock valued at $29,000 after buying an additional 22 shares during the last quarter. Matrix Trust Co grew its position in shares of Caterpillar by 93.8% during the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company's stock valued at $33,000 after buying an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Caterpillar by 82.1% during the first quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company's stock worth $36,000 after acquiring an additional 23 shares during the period. Finally, Axiom Investment Management LLC acquired a new stake in Caterpillar during the second quarter worth about $36,000. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAT shares. Royal Bank Of Canada raised their target price on shares of Caterpillar from $877.00 to $897.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Barclays upped their target price on Caterpillar from $800.00 to $900.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. President Capital assumed coverage on Caterpillar in a research report on Friday, September 18th. They set a "buy" rating and a $999.00 price target on the stock. Freedom Broker raised Caterpillar from a "hold" rating to a "buy" rating and set a $980.00 price target on the stock in a report on Thursday, September 10th. Finally, Needham & Company LLC set a $980.00 price objective on Caterpillar in a research report on Thursday, September 10th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and a consensus price target of $967.83.

Insider Transactions at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares of the company's stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $5.11 during trading hours on Monday, hitting $725.65. The stock had a trading volume of 1,137,361 shares, compared to its average volume of 2,817,429. The stock's fifty day simple moving average is $812.24 and its 200 day simple moving average is $856.69. Caterpillar Inc. has a 1-year low of $510.21 and a 1-year high of $1,073.46. The firm has a market capitalization of $333.56 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.26 and a beta of 1.58. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The business had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same period in the previous year, the firm posted $4.72 earnings per share. The business's revenue was up 23.7% on a year-over-year basis. Sell-side analysts anticipate that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $6.52 annualized dividend and a yield of 0.9%. Caterpillar's payout ratio is presently 28.06%.

Caterpillar Company Profile

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.