Caterpillar Inc. (NYSE:CAT) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 72,743 shares of the industrial products company's stock after purchasing an additional 3,051 shares during the period. CIBC Asset Management Inc's holdings in Caterpillar were worth $28,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. M&G Plc purchased a new position in Caterpillar during the first quarter worth approximately $15,009,000. First Foundation Advisors boosted its position in shares of Caterpillar by 4.8% during the 1st quarter. First Foundation Advisors now owns 3,861 shares of the industrial products company's stock valued at $1,415,000 after acquiring an additional 177 shares during the last quarter. Spirepoint Private Client LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $221,000. TIAA Trust National Association increased its position in Caterpillar by 3.6% during the first quarter. TIAA Trust National Association now owns 21,080 shares of the industrial products company's stock worth $7,724,000 after purchasing an additional 729 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company's stock worth $3,308,000 after purchasing an additional 1,327 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Down 0.8 %

Shares of NYSE CAT traded down $3.29 during mid-day trading on Friday, hitting $384.07. The company had a trading volume of 2,165,453 shares, compared to its average volume of 2,613,751. The business's 50-day simple moving average is $381.86 and its 200 day simple moving average is $354.07. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 1-year low of $241.81 and a 1-year high of $418.50. The company has a market capitalization of $185.43 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.52 earnings per share. On average, analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar's payout ratio is 26.15%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CAT shares. Evercore ISI downgraded shares of Caterpillar from an "in-line" rating to an "underperform" rating and raised their price target for the stock from $321.00 to $365.00 in a report on Wednesday. Truist Financial raised their target price on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, UBS Group boosted their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $365.33.

Insiders Place Their Bets

In other news, CAO William E. Schaupp sold 968 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 8.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is currently owned by insiders.

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.