Lingohr Asset Management GmbH increased its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 1.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,160 shares of the industrial products company’s stock after acquiring an additional 37 shares during the quarter. Caterpillar accounts for 2.0% of Lingohr Asset Management GmbH’s portfolio, making the stock its 16th largest position. Lingohr Asset Management GmbH’s holdings in Caterpillar were worth $842,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. International Assets Investment Management LLC raised its holdings in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after acquiring an additional 307,479 shares during the period. Altshuler Shaham Ltd increased its holdings in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after acquiring an additional 266,969 shares in the last quarter. Swedbank AB purchased a new position in Caterpillar during the first quarter valued at approximately $97,042,000. Finally, Capital International Investors boosted its position in shares of Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after purchasing an additional 244,253 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on CAT shares. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Citigroup decreased their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Four equities research 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.com, the company presently has an average rating of “Hold” and an average target price of $365.33.
Insider Activity
In related news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 16.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,749 shares of company stock worth $9,251,912 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.
Caterpillar Stock Performance
CAT stock opened at $384.53 on Tuesday. The firm has a 50-day simple moving average of $381.86 and a two-hundred day simple moving average of $354.37. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The firm has a market cap of $185.65 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.90 and a beta of 1.10.
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 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 last year, the business earned $5.52 earnings per share. Caterpillar’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.
Caterpillar Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. 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 26.15%.
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.
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