OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,611 shares of the industrial products company's stock, valued at approximately $630,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company's stock valued at $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company's stock worth $1,022,488,000 after buying an additional 165,358 shares during the last quarter. International Assets Investment Management LLC lifted its stake in 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 acquiring an additional 2,131,276 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company's stock valued at $702,431,000 after acquiring an additional 198,123 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company's stock worth $740,225,000 after purchasing an additional 119,326 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
CAT has been the subject of a number of recent research reports. StockNews.com lowered Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. UBS Group boosted their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a "sell" rating in a research note on Monday, November 4th. Citigroup cut their price objective on Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Finally, Barclays boosted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $365.33.
Get Our Latest Analysis on Caterpillar
Caterpillar Trading Up 0.2 %
CAT traded up $0.75 during trading hours on Thursday, reaching $387.82. The company's stock had a trading volume of 573,605 shares, compared to its average volume of 2,612,086. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The stock has a market cap of $187.24 billion, a PE ratio of 17.95, a P/E/G ratio of 1.94 and a beta of 1.10. The business's 50-day moving average is $379.68 and its 200-day moving average is $353.59. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.
Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the prior year, the company posted $5.52 earnings per share. The company's revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.
Caterpillar Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio (DPR) is 26.15%.
Insiders Place Their Bets
In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents 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 available at the SEC website. In other news, Director Daniel M. Dickinson sold 1,300 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now owns 4,976 shares of the company's stock, valued at approximately $2,079,968. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock worth $9,251,912 over the last ninety days. Corporate insiders own 0.29% 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.
Further Reading
Before you consider Caterpillar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Caterpillar wasn't on the list.
While Caterpillar currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
