Wellington Management Group LLP Sells 13,847 Shares of Caterpillar Inc. (NYSE:CAT)

Wellington Management Group LLP cut its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 21.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,654 shares of the industrial products company's stock after selling 13,847 shares during the quarter. Wellington Management Group LLP's holdings in Caterpillar were worth $20,203,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC boosted its holdings in shares of Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company's stock worth $405,000 after acquiring an additional 26 shares in the last quarter. First Bank & Trust grew its position in Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company's stock valued at $277,000 after purchasing an additional 27 shares in the last quarter. Washington Trust Bank grew its position in shares of Caterpillar by 1.2% in the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company's stock valued at $919,000 after acquiring an additional 27 shares during the period. Pacifica Partners Inc. raised its stake in Caterpillar by 1.6% in the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company's stock valued at $707,000 after acquiring an additional 28 shares during the period. Finally, Vanguard Capital Wealth Advisors boosted its stake in Caterpillar by 0.8% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company's stock valued at $1,356,000 after purchasing an additional 28 shares during the period. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Morgan Stanley downgraded shares of Caterpillar from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $500.00 to $515.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Truist Financial increased 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. Evercore ISI cut shares of Caterpillar from an "in-line" rating to an "underperform" rating and raised their price target for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Finally, Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $374.69.

Caterpillar Price Performance

NYSE:CAT traded down $0.27 during trading hours on Friday, hitting $380.51. The stock had a trading volume of 2,035,063 shares, compared to its average volume of 2,553,393. The company has a 50 day simple moving average of $392.29 and a two-hundred day simple moving average of $360.37. Caterpillar Inc. has a one year low of $270.55 and a one year high of $418.50. The firm has a market capitalization of $183.71 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.92 and a beta of 1.10. 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 announced its earnings results 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 company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.52 earnings per share. Research analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. Caterpillar's dividend payout ratio (DPR) is 26.15%.

Insider Buying and Selling

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now owns 4,976 shares of the company's stock, valued at $2,079,968. This trade represents a 20.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the transaction, the insider now directly owns 12,951 shares of the company's stock, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock worth $9,679,489 in the last 90 days. 0.29% of the stock is owned by company insiders.

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.