Harvest Fund Management Co. Ltd Reduces Position in Caterpillar Inc. (NYSE:CAT)

Harvest Fund Management Co. Ltd decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 59.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,655 shares of the industrial products company's stock after selling 2,472 shares during the period. Harvest Fund Management Co. Ltd's holdings in Caterpillar were worth $647,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar during the second quarter worth about $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the second quarter worth about $36,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar in the third quarter worth about $36,000. Finally, POM Investment Strategies LLC increased its holdings in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock worth $38,000 after buying an additional 108 shares during the period. Institutional investors own 70.98% of the company's stock.

Insider Activity

In related news, insider Lange Bob De sold 12,657 shares of Caterpillar 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares of the company's stock, valued at approximately $642,332.28. This represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,774 shares of company stock worth $8,233,034 over the last 90 days. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 7th. UBS Group boosted their price target on Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Evercore ISI downgraded Caterpillar from an "in-line" rating to an "underperform" rating and boosted their price target for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Citigroup reduced 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 issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $365.33.

Caterpillar Stock Performance

CAT traded up $2.17 during mid-day trading on Tuesday, reaching $407.82. 1,796,577 shares of the company traded hands, compared to its average volume of 2,600,302. 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 stock has a market capitalization of $196.90 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.96 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $246.01 and a 52-week high of $418.50. The company's fifty day moving average price is $389.05 and its 200-day moving average price is $356.75.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 company had revenue of $16.11 billion during the quarter, compared to analysts' expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $5.52 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.38%. Caterpillar's payout ratio is 26.15%.

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.