Caterpillar Inc. $CAT Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd reduced its position in Caterpillar Inc. by 27.5% in Q1, selling 21,900 shares, and now holds shares worth $19,072,000.
• Caterpillar reported quarterly earnings of $4.72 per share, missing estimates, with revenue of $16.57 billion, a 0.7% decline from the previous year.
• The company recently increased its quarterly dividend from $1.41 to $1.51 per share, resulting in an annual yield of 1.4% and a payout ratio of 30.72%.

USS Investment Management Ltd decreased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,808 shares of the industrial products company's stock after selling 21,900 shares during the period. USS Investment Management Ltd's holdings in Caterpillar were worth $19,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CAT. GAMMA Investing LLC grew its stake in shares of Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Caterpillar by 2,723.1% in the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after acquiring an additional 1,364,183 shares in the last quarter. Nuveen LLC acquired a new position in shares of Caterpillar in the first quarter worth $391,788,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Caterpillar by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after purchasing an additional 312,878 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Caterpillar during the fourth quarter worth $108,958,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company'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 directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,653 shares of company stock valued at $8,943,642. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

CAT traded up $0.11 on Friday, reaching $431.49. The company had a trading volume of 768,155 shares, compared to its average volume of 2,722,110. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15. The stock has a market capitalization of $202.14 billion, a PE ratio of 21.95, a P/E/G ratio of 2.57 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average price of $419.41 and a 200-day moving average price of $364.55.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share 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 company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the firm earned $5.99 earnings per share. Caterpillar's revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAT. Citigroup boosted their target price on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Robert W. Baird lowered their target price on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. DA Davidson boosted their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $457.20.

Caterpillar 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.