Caterpillar Inc. (NYSE:CAT) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC lowered its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,888 shares of the industrial products company's stock after selling 2,863 shares during the quarter. Caterpillar accounts for 4.9% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 5th largest position. Minneapolis Portfolio Management Group LLC's holdings in Caterpillar were worth $37,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Caterpillar by 39,534.0% during 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 buying an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Caterpillar by 306.9% during 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 buying an additional 307,479 shares during the period. Altshuler Shaham Ltd lifted its position in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock worth $91,606,000 after buying an additional 266,969 shares during the last quarter. Swedbank AB bought a new position in Caterpillar during the first quarter valued at $97,042,000. Finally, Capital International Investors raised its position in Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company's stock worth $179,060,000 after purchasing an additional 244,253 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CAT shares. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a report on Thursday. Citigroup decreased their price objective on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a report on Thursday. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. Finally, Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $357.56.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company's stock, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Caterpillar 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 completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Up 0.9 %

CAT traded up $3.43 on Friday, hitting $379.63. 1,633,361 shares of the company were exchanged, compared to its average volume of 2,204,125. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33. The company has a market cap of $184.08 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The firm has a 50-day moving average price of $372.40 and a two-hundred day moving average price of $351.32. Caterpillar Inc. has a twelve month low of $232.88 and a twelve month high of $403.60.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (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 return on equity of 59.09% and a net margin of 16.26%. Caterpillar's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $5.52 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.49%. Caterpillar's dividend payout ratio (DPR) is 26.15%.

Caterpillar Company Profile

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.