CWA Asset Management Group LLC acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 10,915 shares of the industrial products company's stock, valued at approximately $4,269,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Acadian Asset Management LLC boosted its stake in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company's stock valued at $3,308,000 after purchasing an additional 1,327 shares during the period. Alpha Cubed Investments LLC boosted its position in Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company's stock valued at $45,591,000 after buying an additional 6,212 shares during the period. First Affirmative Financial Network purchased a new position in shares of Caterpillar in the third quarter valued at about $204,000. Inspire Advisors LLC raised its stake in shares of Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company's stock valued at $3,233,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC boosted its holdings in shares of Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company's stock worth $6,485,000 after purchasing an additional 4,182 shares during the period. Institutional investors own 70.98% of the company's stock.
Caterpillar Stock Down 3.6 %
Caterpillar stock traded down $14.84 during mid-day trading on Friday, hitting $393.37. The company had a trading volume of 3,345,862 shares, compared to its average volume of 2,292,855. Caterpillar Inc. has a 12 month low of $233.82 and a 12 month 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 stock's 50 day moving average price is $376.80 and its two-hundred day moving average price is $352.75. The company has a market capitalization of $190.75 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.
Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS 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 analysts' expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $5.52 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.
Caterpillar Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. Caterpillar's payout ratio is currently 26.15%.
Insider Activity at Caterpillar
In other 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 completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company's stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company's stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have commented on CAT shares. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. UBS Group lifted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Robert W. Baird upped their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Finally, Evercore ISI cut their target price on shares of Caterpillar from $338.00 to $321.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $362.40.
View Our Latest Stock Analysis 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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