Swiss National Bank Sells 27,000 Shares of Caterpillar Inc. (NYSE:CAT)

Swiss National Bank lessened its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,451,600 shares of the industrial products company's stock after selling 27,000 shares during the quarter. Swiss National Bank owned 0.30% of Caterpillar worth $567,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC grew its stake in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company's stock worth $3,308,000 after buying an additional 1,327 shares during the last quarter. Catalytic Wealth RIA LLC grew its position in Caterpillar by 12.4% during the 1st quarter. Catalytic Wealth RIA LLC now owns 1,223 shares of the industrial products company's stock worth $448,000 after acquiring an additional 135 shares during the last quarter. Trustmark National Bank Trust Department increased its holdings in Caterpillar by 18.8% in the 1st quarter. Trustmark National Bank Trust Department now owns 4,409 shares of the industrial products company's stock worth $1,616,000 after purchasing an additional 699 shares in the last quarter. Penobscot Investment Management Company Inc. raised its position in Caterpillar by 5.0% in the first quarter. Penobscot Investment Management Company Inc. now owns 7,935 shares of the industrial products company's stock valued at $2,908,000 after purchasing an additional 380 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Caterpillar by 3.1% during the first quarter. Ameritas Investment Partners Inc. now owns 13,483 shares of the industrial products company's stock valued at $4,940,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 0.8 %

NYSE CAT traded down $3.29 on Friday, hitting $384.07. 2,165,453 shares of the company were exchanged, compared to its average volume of 2,355,409. 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 company has a market cap of $185.43 billion, a PE ratio of 17.81, a PEG ratio of 1.90 and a beta of 1.10. The stock has a fifty day moving average of $381.86 and a 200-day moving average of $354.20. Caterpillar Inc. has a 12 month low of $241.81 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm 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 business earned $5.52 earnings per share. The business's quarterly revenue was down 4.2% on a year-over-year basis. As a group, analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar's payout ratio is 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research reports. Barclays raised their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. 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. JPMorgan Chase & Co. increased their price objective on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Truist Financial lifted their target price on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Morgan Stanley cut Caterpillar from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of "Hold" and an average price target of $365.33.

Insider Buying and Selling

In other news, CAO William E. Schaupp sold 968 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company's stock, valued at $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 23,749 shares of company stock worth $9,251,912 in the last ninety days. Corporate insiders own 0.29% of the company's stock.

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.