Manning & Napier Advisors LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,495 shares of the industrial products company's stock after selling 11,131 shares during the quarter. Manning & Napier Advisors LLC's holdings in Caterpillar were worth $41,171,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the period. Zurich Insurance Group Ltd FI grew its position in shares of Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company's stock valued at $99,874,000 after acquiring an additional 249,155 shares during the period. Fisher Asset Management LLC increased its stake in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company's stock valued at $3,501,554,000 after purchasing an additional 205,012 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Caterpillar by 34.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company's stock worth $305,908,000 after purchasing an additional 200,210 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Caterpillar by 106.2% in the third quarter. Assenagon Asset Management S.A. now owns 317,828 shares of the industrial products company's stock valued at $124,309,000 after purchasing an additional 163,725 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.
Insider Activity at Caterpillar
In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction on Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,900 shares of company stock valued at $13,111,601 over the last 90 days. 0.29% of the stock is owned by corporate insiders.
Caterpillar Trading Down 0.8 %
CAT traded down $3.10 on Friday, hitting $371.88. The company had a trading volume of 2,857,909 shares, compared to its average volume of 1,986,694. 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 firm has a market cap of $179.54 billion, a P/E ratio of 17.24, a PEG ratio of 2.05 and a beta of 1.13. The company's fifty day moving average price is $380.88 and its 200 day moving average price is $371.07. Caterpillar Inc. has a 1 year low of $299.93 and a 1 year high of $418.50.
Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. As a group, equities analysts expect that Caterpillar Inc. will post 21.71 earnings per share for the current year.
Caterpillar Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.52%. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.
Analysts Set New Price Targets
CAT has been the topic of a number of recent analyst reports. Evercore ISI upgraded Caterpillar from an "underperform" rating to an "in-line" rating and set a $365.00 target price on the stock in a research report on Monday, January 13th. Morgan Stanley decreased their target price on Caterpillar from $330.00 to $300.00 and set an "underweight" rating on the stock in a research report on Friday. Jefferies Financial Group increased their price objective on Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research report on Thursday, October 31st. Finally, Citigroup boosted their price target on shares of Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Caterpillar presently has an average rating of "Hold" and a consensus price target of $380.13.
Read Our Latest Report on Caterpillar
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.
Further Reading
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