Sumitomo Mitsui Trust Group Inc. Has $556.95 Million Stake in Caterpillar Inc. (NYSE:CAT)

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,423,978 shares of the industrial products company's stock after selling 7,002 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Caterpillar worth $556,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Apollon Financial LLC boosted its stake in Caterpillar by 2.5% in the 3rd quarter. Apollon Financial LLC now owns 1,340 shares of the industrial products company's stock valued at $524,000 after buying an additional 33 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Caterpillar during the third quarter worth $630,000. WealthPlan Investment Management LLC raised its position in shares of Caterpillar by 590.0% during the third quarter. WealthPlan Investment Management LLC now owns 6,141 shares of the industrial products company's stock worth $2,402,000 after acquiring an additional 5,251 shares during the last quarter. First National Trust Co raised its position in shares of Caterpillar by 0.3% during the third quarter. First National Trust Co now owns 48,965 shares of the industrial products company's stock worth $19,151,000 after acquiring an additional 142 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Caterpillar by 2.9% during the third quarter. Harbour Investments Inc. now owns 6,548 shares of the industrial products company's stock worth $2,561,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 71,107 shares of the company's stock, valued at approximately $29,171,646.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the transaction, the director now owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,749 shares of company stock worth $9,251,912. Corporate insiders own 0.29% of the company's stock.

Caterpillar Stock Down 0.7 %

Shares of Caterpillar stock traded down $2.89 during trading on Tuesday, reaching $393.65. The company's stock had a trading volume of 969,877 shares, compared to its average volume of 2,620,559. The company has a 50-day simple moving average of $377.62 and a two-hundred day simple moving average of $353.01. Caterpillar Inc. has a 1-year low of $238.88 and a 1-year high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market cap of $190.06 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.94 and a beta of 1.10.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly 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 return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analysts' expectations of $16.37 billion. During the same quarter in the prior year, the company posted $5.52 EPS. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio (DPR) is currently 26.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAT shares. Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. Bank of America increased 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. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a research report on Monday, November 4th. Finally, Robert W. Baird lifted 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Caterpillar has a consensus rating of "Hold" and an average price target of $362.40.

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.