Thrivent Financial for Lutherans Sells 12,312 Shares of Caterpillar Inc. (NYSE:CAT)

Thrivent Financial for Lutherans lessened its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 481,400 shares of the industrial products company's stock after selling 12,312 shares during the quarter. Thrivent Financial for Lutherans owned about 0.10% of Caterpillar worth $188,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC raised its position in Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company's stock worth $405,000 after purchasing an additional 26 shares during the last quarter. First Bank & Trust raised its position in Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company's stock worth $277,000 after purchasing an additional 27 shares during the last quarter. Washington Trust Bank raised its position in Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company's stock worth $919,000 after purchasing an additional 27 shares during the last quarter. Pacifica Partners Inc. raised its position in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company's stock worth $707,000 after purchasing an additional 28 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors raised its position in Caterpillar by 0.8% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company's stock worth $1,356,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 0.8 %

CAT stock traded down $3.29 during mid-day trading on Friday, reaching $384.07. 2,165,453 shares of the company traded hands, compared to its average volume of 2,355,409. The stock has a market cap of $185.43 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10. 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 Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The firm's 50 day moving average price is $381.86 and its 200 day moving average price is $354.20.

Caterpillar (NYSE:CAT - Get Free Report) last announced 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion during the quarter, compared to analysts' expectations of $16.37 billion. During the same quarter in the previous year, the firm earned $5.52 EPS. Caterpillar's quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Robert W. Baird raised their target price on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a research report on Thursday, October 31st. UBS Group lifted their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a "sell" rating in a research report on Monday, November 4th. Evercore ISI lowered Caterpillar from an "in-line" rating to an "underperform" rating and lifted their price objective for the stock from $321.00 to $365.00 in a research report on Wednesday. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, StockNews.com lowered Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned 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 Transactions at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were bought 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 $962,272.78. This trade represents a 3.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 71,107 shares in the company, 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 have sold 23,749 shares of company stock worth $9,251,912 in the last 90 days. Insiders own 0.29% of the company's stock.

Caterpillar 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.