American Century Companies Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 804,019 shares of the industrial products company’s stock after selling 135,893 shares during the quarter. American Century Companies Inc. owned about 0.14% of Caterpillar worth $122,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of CAT. Acropolis Investment Management LLC bought a new position in shares of Caterpillar in the 3rd quarter worth about $100,000. Sound Income Strategies LLC increased its stake in shares of Caterpillar by 181.8% in the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 429 shares in the last quarter. St. Johns Investment Management Company LLC bought a new position in shares of Caterpillar in the 3rd quarter worth about $106,000. Avestar Capital LLC increased its stake in shares of Caterpillar by 92.3% in the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 477 shares in the last quarter. Finally, Landaas & Co. WI ADV bought a new position in shares of Caterpillar in the 2nd quarter worth about $130,000. Institutional investors own 66.56% of the company’s stock.
In other news, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now directly owns 22,826 shares in the company, valued at $3,519,312.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De purchased 1,080 shares of Caterpillar stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $115.58 per share, with a total value of $124,826.40. Following the completion of the purchase, the insider now directly owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
Several research analysts recently issued reports on the stock. Macquarie set a $130.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a research note on Tuesday, September 25th. Robert W. Baird set a $171.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 24th. BMO Capital Markets decreased their price target on shares of Caterpillar from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Oppenheimer assumed coverage on shares of Caterpillar in a research note on Friday, September 7th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Finally, OTR Global lowered shares of Caterpillar to a “positive” rating in a research note on Friday, September 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $158.55.
NYSE:CAT opened at $126.91 on Friday. The stock has a market cap of $76.32 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.71 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.48 and a quick ratio of 1.02. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $173.24.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $13.51 billion during the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. Caterpillar’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business earned $1.95 EPS. Equities research analysts expect that Caterpillar Inc. will post 11.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be paid a $0.86 dividend. The ex-dividend date is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.71%. Caterpillar’s dividend payout ratio is presently 50.00%.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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