Qsemble Capital Management LP Buys New Holdings in Caterpillar Inc. (NYSE:CAT)

Qsemble Capital Management LP purchased a new position in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,870 shares of the industrial products company’s stock, valued at approximately $1,123,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in shares of Caterpillar by 2.8% in the third quarter. Bank of Montreal Can now owns 900,971 shares of the industrial products company’s stock valued at $352,352,000 after buying an additional 24,577 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Caterpillar by 1.0% in the 3rd quarter. Private Trust Co. NA now owns 8,031 shares of the industrial products company’s stock worth $3,141,000 after acquiring an additional 76 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in Caterpillar by 26.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 8,216 shares of the industrial products company’s stock valued at $3,213,000 after acquiring an additional 1,743 shares in the last quarter. Diversified LLC increased its holdings in Caterpillar by 2.9% during the 3rd quarter. Diversified LLC now owns 2,181 shares of the industrial products company’s stock worth $853,000 after purchasing an additional 61 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Caterpillar by 31.1% in the third quarter. Brown Brothers Harriman & Co. now owns 13,250 shares of the industrial products company’s stock valued at $5,182,000 after purchasing an additional 3,142 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 0.5 %

CAT stock opened at $407.82 on Wednesday. The stock has a 50-day simple moving average of $389.05 and a two-hundred day simple moving average of $356.75. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The firm has a market capitalization of $196.90 billion, a PE ratio of 18.91, a PEG ratio of 1.96 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the firm posted $5.52 EPS. Caterpillar’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts predict that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a $1.41 dividend. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.38%. Caterpillar’s payout ratio is currently 26.15%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $321.00 to $365.00 in a research note on Wednesday, November 13th. Citigroup cut their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Robert W. Baird raised their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Bank of America boosted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $365.33.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is owned by corporate insiders.

Caterpillar Company 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.