Caterpillar Inc. (NYSE:CAT) Shares Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 13.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,500 shares of the industrial products company's stock after buying an additional 4,200 shares during the quarter. Cornerstone Advisors LLC's holdings in Caterpillar were worth $14,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. International Assets Investment Management LLC raised its stake 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 during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company's stock valued at $149,385,000 after acquiring an additional 307,479 shares during the period. Altshuler Shaham Ltd grew its stake 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 worth $91,606,000 after purchasing an additional 266,969 shares during the period. Swedbank AB purchased a new stake in Caterpillar during the first quarter worth $97,042,000. Finally, Capital International Investors raised its position in shares of Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company's stock worth $179,060,000 after acquiring an additional 244,253 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE:CAT opened at $381.44 on Thursday. The stock has a 50 day moving average price of $383.83 and a 200 day moving average price of $355.03. The stock has a market cap of $184.16 billion, a PE ratio of 17.68, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for 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%. The company's revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.52 EPS. Equities research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were given a $1.41 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.48%. Caterpillar's payout ratio is 26.15%.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 3,185 shares of the business's stock in a transaction on Friday, August 30th. The stock was 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 approximately $11,750,181.12. The trade was a 8.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company's stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,774 shares of company stock valued at $8,233,034 over the last quarter. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

CAT has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Evercore ISI downgraded Caterpillar from an "in-line" rating to an "underperform" rating and upped their target price for the stock from $321.00 to $365.00 in a research note on Wednesday, November 13th. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Finally, UBS Group lifted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $365.33.

About Caterpillar

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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