Mutual of America Capital Management LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,847 shares of the industrial products company's stock after selling 2,418 shares during the quarter. Mutual of America Capital Management LLC's holdings in Caterpillar were worth $25,754,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc grew its position in Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company's stock worth $1,286,582,000 after buying an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company's stock worth $1,022,488,000 after acquiring an additional 165,358 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of 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 worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company's stock valued at $702,431,000 after purchasing an additional 198,123 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Caterpillar by 6.3% in the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company's stock worth $740,225,000 after purchasing an additional 119,326 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Stock Performance
CAT stock traded down $3.29 during midday trading on Friday, reaching $384.07. 2,165,453 shares of the company were exchanged, compared to its average volume of 2,355,409. The firm has a market capitalization of $185.43 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. The business has a 50-day moving average price of $381.86 and a two-hundred day moving average price of $354.20. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. 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 (NYSE:CAT - Get Free Report) last announced its earnings results 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the business posted $5.52 EPS. Caterpillar's revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current year.
Caterpillar Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.
Insiders Place Their Bets
In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 71,107 shares of the company's stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock worth $9,251,912 over the last ninety days. Corporate insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on CAT shares. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 7th. UBS Group increased their target price on Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Morgan Stanley downgraded Caterpillar from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Finally, Citigroup dropped their target price on Caterpillar from $445.00 to $435.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $365.33.
Check Out Our Latest Research Report on Caterpillar
Caterpillar Company 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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