Slow Capital Inc. Sells 123 Shares of Caterpillar Inc. (NYSE:CAT)

Slow Capital Inc. trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.0% in the third quarter, HoldingsChannel reports. The firm owned 11,785 shares of the industrial products company’s stock after selling 123 shares during the quarter. Slow Capital Inc.’s holdings in Caterpillar were worth $4,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC lifted its holdings in shares of Caterpillar by 5.1% during the first quarter. RFG Advisory LLC now owns 6,783 shares of the industrial products company’s stock worth $2,485,000 after buying an additional 331 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings in shares of Caterpillar by 8.3% during the first quarter. MJP Associates Inc. ADV now owns 887 shares of the industrial products company’s stock worth $325,000 after buying an additional 68 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Caterpillar by 2.5% during the first quarter. International Assets Investment Management LLC now owns 5,180 shares of the industrial products company’s stock worth $1,884,000 after buying an additional 127 shares in the last quarter. Crestmont Private Wealth LLC acquired a new stake in shares of Caterpillar during the first quarter worth $230,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Caterpillar during the first quarter worth $456,000. 70.98% of the stock is owned by institutional investors.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred 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 directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $393.86 on Friday. The stock has a market cap of $192.62 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock’s 50-day moving average is $363.86 and its 200-day moving average is $350.44. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $5.55 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is presently 25.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CAT shares. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $355.50.

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.