Dai ichi Life Insurance Company Ltd lifted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 12.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,040 shares of the industrial products company's stock after buying an additional 2,469 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Caterpillar were worth $9,011,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Qsemble Capital Management LP bought a new stake in shares of Caterpillar during the third quarter valued at approximately $1,123,000. Bank of Montreal Can boosted its position in Caterpillar by 2.8% in the 3rd quarter. Bank of Montreal Can now owns 900,971 shares of the industrial products company's stock valued at $352,352,000 after buying an additional 24,577 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Caterpillar by 1.0% in the 3rd quarter. Private Trust Co. NA now owns 8,031 shares of the industrial products company's stock valued at $3,141,000 after buying an additional 76 shares during the period. Horizon Kinetics Asset Management LLC lifted its stake in shares of Caterpillar by 26.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 8,216 shares of the industrial products company's stock valued at $3,213,000 after acquiring an additional 1,743 shares during the period. Finally, Diversified LLC increased its position in Caterpillar by 2.9% in the third quarter. Diversified LLC now owns 2,181 shares of the industrial products company's stock worth $853,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.
Caterpillar Stock Up 0.2 %
Shares of NYSE:CAT traded up $0.82 during midday trading on Tuesday, reaching $406.47. 1,037,603 shares of the company were exchanged, compared to its average volume of 2,596,786. The firm has a market cap of $196.24 billion, a PE ratio of 18.81, a P/E/G ratio of 1.96 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $246.01 and a fifty-two week high of $418.50. The stock has a fifty day simple moving average of $387.97 and a two-hundred day simple moving average of $356.38. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.
Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 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 firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the firm earned $5.52 earnings per share. The business's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.67 earnings per share for the current year.
Caterpillar Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Monday, October 21st. Caterpillar's dividend payout ratio is presently 26.15%.
Analyst Upgrades and Downgrades
CAT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Morgan Stanley lowered shares of Caterpillar from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research note on Monday, September 30th. UBS Group upped their price objective on Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Finally, Robert W. Baird raised their target price on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $365.33.
View Our Latest Research Report on CAT
Insider Buying and Selling
In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 3.65 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,774 shares of company stock worth $8,233,034. 0.29% of the stock is owned by 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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