Peapack Gladstone Financial Corp Has $31.46 Million Position in Caterpillar Inc. (NYSE:CAT)

Peapack Gladstone Financial Corp reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,444 shares of the industrial products company’s stock after selling 2,342 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Caterpillar were worth $31,463,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CAT. International Assets Investment Management LLC boosted its holdings in shares of Caterpillar by 39,534.0% during the third 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. Altshuler Shaham Ltd boosted its holdings in shares of Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares during the period. Zurich Insurance Group Ltd FI boosted its holdings in shares of Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Caterpillar by 34.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after purchasing an additional 200,210 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the sale, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock worth $9,679,489 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 2.1 %

Shares of CAT stock opened at $380.68 on Friday. Caterpillar Inc. has a 1 year low of $259.28 and a 1 year high of $418.50. The firm’s fifty day simple moving average is $392.83 and its 200 day simple moving average is $360.00. The firm has a market capitalization of $183.79 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) 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 company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the firm posted $5.52 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. Caterpillar’s dividend payout ratio is currently 26.15%.

Analyst Ratings Changes

CAT has been the topic of several recent research reports. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group raised their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Truist Financial raised their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $374.69.

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.