Ontario Teachers Pension Plan Board Reduces Position in Caterpillar Inc. (NYSE:CAT)

Ontario Teachers Pension Plan Board decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 59.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,649 shares of the industrial products company's stock after selling 9,877 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Caterpillar were worth $2,601,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company's stock worth $3,308,000 after purchasing an additional 1,327 shares in the last quarter. Pitcairn Co. boosted its stake in shares of Caterpillar by 6.4% during the first quarter. Pitcairn Co. now owns 3,468 shares of the industrial products company's stock valued at $1,271,000 after purchasing an additional 208 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Caterpillar by 19.7% during the first quarter. Vident Advisory LLC now owns 24,427 shares of the industrial products company's stock worth $8,951,000 after purchasing an additional 4,013 shares during the last quarter. Delap Wealth Advisory LLC acquired a new position in shares of Caterpillar in the first quarter valued at approximately $281,000. Finally, CreativeOne Wealth LLC grew its holdings in Caterpillar by 127.5% during the 1st quarter. CreativeOne Wealth LLC now owns 8,881 shares of the industrial products company's stock worth $3,254,000 after acquiring an additional 4,978 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Down 0.2 %

CAT stock traded down $0.89 during midday trading on Wednesday, reaching $381.44. 1,859,592 shares of the company's stock traded hands, compared to its average volume of 2,602,442. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The company has a market cap of $184.16 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.90 and a beta of 1.10. The firm's fifty day moving average price is $383.83 and its 200-day moving average price is $355.03. 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 posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.52 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio is 26.15%.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the business's stock in a transaction dated Friday, August 30th. The shares were 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 of the company's stock, valued at approximately $11,750,181.12. The trade was a 8.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now owns 71,107 shares of the company's stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock worth $9,251,912 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America lifted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Morgan Stanley downgraded Caterpillar from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. UBS Group upped their target price 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 price target on shares of 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Hold" and a consensus target price of $365.33.

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.