Caterpillar Inc. (NYSE:CAT) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,612 shares of the industrial products company's stock after selling 2,856 shares during the quarter. ARK Investment Management LLC's holdings in Caterpillar were worth $8,453,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock valued at $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company's stock valued at $149,385,000 after buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd raised its position in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock valued at $91,606,000 after buying an additional 266,969 shares in the last quarter. Swedbank AB purchased a new stake in shares of Caterpillar during the 1st quarter valued at about $97,042,000. Finally, Capital International Investors raised its position in shares of Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company's stock valued at $179,060,000 after buying an additional 244,253 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other news, Director Gerald Johnson purchased 100 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson bought 100 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 23,749 shares of company stock valued at $9,251,912 over the last 90 days. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAT. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Morgan Stanley lowered shares of Caterpillar from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, Citigroup dropped their target price on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of "Hold" and an average price target of $358.19.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $14.84 during midday trading on Friday, reaching $393.37. The company had a trading volume of 3,345,024 shares, compared to its average volume of 2,631,940. The business's 50-day simple moving average is $376.80 and its 200 day simple moving average is $352.75. The stock has a market cap of $190.74 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $233.82 and a 1 year high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analysts' expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company's quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $5.52 EPS. On average, analysts forecast that Caterpillar Inc. will post 21.77 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.

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.