Asahi Life Asset Management CO. LTD. lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,343 shares of the industrial products company's stock after selling 1,282 shares during the quarter. Caterpillar makes up about 2.2% of Asahi Life Asset Management CO. LTD.'s investment portfolio, making the stock its 10th largest position. Asahi Life Asset Management CO. LTD.'s holdings in Caterpillar were worth $3,654,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Caterpillar by 39,534.0% in the 3rd 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 acquiring an additional 2,131,276 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company's stock valued at $149,385,000 after purchasing an additional 307,479 shares during the period. Altshuler Shaham Ltd grew its position in shares of Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock valued at $91,606,000 after purchasing an additional 266,969 shares during the period. Swedbank AB acquired a new position in shares of Caterpillar in the 1st quarter valued at approximately $97,042,000. Finally, Capital International Investors grew its position in shares of Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company's stock valued at $179,060,000 after purchasing an additional 244,253 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on CAT. Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 7th. UBS Group upped their price target on Caterpillar from $270.00 to $285.00 and gave the stock a "sell" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Caterpillar from $435.00 to $500.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Citigroup increased their price objective on Caterpillar from $380.00 to $445.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Evercore ISI cut their price objective on Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $355.50.
Check Out Our Latest Stock Analysis on CAT
Caterpillar Trading Up 1.2 %
Shares of CAT traded up $4.64 during mid-day trading on Monday, reaching $390.61. 1,518,917 shares of the company were exchanged, compared to its average volume of 2,617,272. The stock has a market capitalization of $191.03 billion, a PE ratio of 17.65, a PEG ratio of 1.85 and a beta of 1.10. The business has a 50 day simple moving average of $368.57 and a two-hundred day simple moving average of $350.66. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60.
Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.55 earnings per share. On average, analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.
Caterpillar Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.44%. Caterpillar's payout ratio is 25.46%.
Insiders Place Their Bets
In other Caterpillar 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 transaction, the insider now owns 33,442 shares of the company's stock, valued at approximately $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 accessible through this link. In related news, Director Gerald Johnson acquired 100 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated 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 sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.
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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