Citizens Financial Group Inc. RI raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 43.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,902 shares of the industrial products company's stock after acquiring an additional 4,181 shares during the period. Citizens Financial Group Inc. RI's holdings in Caterpillar were worth $5,437,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CAT. International Assets Investment Management LLC lifted its position in Caterpillar by 39,534.0% during the third 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 during the period. Canada Pension Plan Investment Board raised its position in shares of Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company's stock worth $149,385,000 after purchasing an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd raised its position in shares of Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock worth $91,606,000 after purchasing an additional 266,969 shares during the last quarter. Swedbank AB purchased a new position in shares of Caterpillar in the 1st quarter worth about $97,042,000. Finally, Capital International Investors raised its position in shares of Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company's stock worth $179,060,000 after purchasing an additional 244,253 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.
Caterpillar Stock Up 2.0 %
Shares of CAT traded up $7.89 during midday trading on Friday, reaching $397.48. 1,893,011 shares of the stock were exchanged, compared to its average volume of 2,595,929. Caterpillar Inc. has a 52 week low of $246.01 and a 52 week 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. The company's 50 day moving average is $385.77 and its two-hundred day moving average is $355.46. The company has a market capitalization of $191.90 billion, a P/E ratio of 18.09, a PEG ratio of 1.89 and a beta of 1.10.
Caterpillar (NYSE:CAT - Get Free Report) last issued 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 company had revenue of $16.11 billion for 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 revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.52 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current year.
Caterpillar Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.
Insider Buying and Selling at Caterpillar
In related news, Director Daniel M. Dickinson sold 1,300 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now directly owns 4,976 shares of the company's stock, valued at $2,079,968. This trade represents a 20.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,774 shares of company stock worth $8,233,034. 0.29% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
CAT has been the subject of several recent analyst reports. Morgan Stanley lowered Caterpillar from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a report on Thursday, October 31st. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, September 24th. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $365.33.
Check Out Our Latest Research Report on CAT
Caterpillar Profile
(
Free Report)
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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