Kentucky Retirement Systems Has $13.21 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Kentucky Retirement Systems lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,781 shares of the industrial products company’s stock after selling 3,072 shares during the quarter. Kentucky Retirement Systems’ holdings in Caterpillar were worth $13,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar during the 2nd quarter valued at about $28,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the third quarter worth approximately $36,000. Finally, POM Investment Strategies LLC boosted its holdings in shares of Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.8 %

Shares of NYSE:CAT opened at $384.08 on Friday. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market cap of $185.43 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.91 and a beta of 1.10. The stock’s 50-day moving average is $381.86 and its 200-day moving average is $354.07.

Caterpillar (NYSE:CAT) last issued its quarterly 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 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 the consensus estimate of $16.37 billion. During the same period in the prior year, the firm earned $5.52 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird lifted their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Bank of America raised their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Four 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $365.33.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 16.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is currently 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.