Stock Yards Bank & Trust Co. lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,324 shares of the industrial products company's stock after selling 4,215 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Caterpillar were worth $32,981,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Alpha Cubed Investments LLC boosted its stake in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company's stock worth $45,591,000 after buying an additional 6,212 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company's stock valued at $5,437,000 after acquiring an additional 4,181 shares during the period. First Affirmative Financial Network acquired a new position in Caterpillar in the third quarter worth about $204,000. Inspire Advisors LLC lifted its stake in Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company's stock worth $3,233,000 after purchasing an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC boosted its holdings in Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company's stock valued at $6,485,000 after purchasing an additional 4,182 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.
Caterpillar Trading Down 2.1 %
Shares of CAT traded down $8.09 during trading hours on Thursday, hitting $380.78. 1,802,670 shares of the stock traded hands, compared to its average volume of 2,555,545. The business has a fifty day moving average of $392.83 and a 200-day moving average of $360.00. The firm has a market capitalization of $183.84 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $259.28 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 released its 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the company posted $5.52 earnings per share. The business's revenue for the quarter was down 4.2% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 21.67 EPS for the current year.
Caterpillar Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar's dividend payout ratio is presently 26.15%.
Wall Street Analyst Weigh In
Several research firms recently commented on CAT. JPMorgan Chase & Co. raised their target price on Caterpillar from $500.00 to $515.00 and gave the stock an "overweight" rating in a research report on Monday. Morgan Stanley cut Caterpillar from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Citigroup upped their target price on shares of Caterpillar from $435.00 to $460.00 and gave the stock a "buy" rating in a report on Monday. Robert W. Baird lifted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a report on Thursday, October 31st. Finally, Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $374.69.
Check Out Our Latest Analysis on CAT
Insider Activity
In related news, Director Gerald Johnson bought 100 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, with a total value of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares of the company's stock, valued at $1,176,977.21. This represents a 3.51 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was 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 in the company, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock valued at $9,679,489 in the last 90 days. 0.29% of the stock is owned by company insiders.
About Caterpillar
(
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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