Markston International LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,620 shares of the industrial products company’s stock after selling 1,560 shares during the period. Markston International LLC’s holdings in Caterpillar were worth $3,297,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in Caterpillar by 5.4% during the 2nd quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock worth $874,069,000 after purchasing an additional 327,470 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Caterpillar by 7.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,239,504 shares of the industrial products company’s stock worth $303,834,000 after purchasing an additional 145,707 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Caterpillar by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock worth $291,325,000 after purchasing an additional 151,960 shares in the last quarter. Swiss National Bank lifted its holdings in Caterpillar by 3.5% during the 2nd quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock worth $268,086,000 after purchasing an additional 67,200 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Caterpillar by 23.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after purchasing an additional 374,038 shares in the last quarter. 66.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of Caterpillar stock opened at $126.91 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market cap of $79.72 billion, a PE ratio of 18.45, a PEG ratio of 0.74 and a beta of 1.58. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $173.24.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.83 by $0.03. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 EPS. Research analysts forecast that Caterpillar Inc. will post 11.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be given a dividend of $0.86 per share. The ex-dividend date is Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.71%. Caterpillar’s dividend payout ratio (DPR) is presently 50.00%.
Several analysts have weighed in on CAT shares. Cleveland Research reaffirmed a “hold” rating on shares of Caterpillar in a report on Friday, October 19th. Citigroup raised Caterpillar to an “outperform” rating in a report on Friday, September 21st. Deutsche Bank set a $177.00 price target on Caterpillar and gave the company a “buy” rating in a report on Wednesday, September 5th. ValuEngine cut Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, Morgan Stanley set a $169.00 price target on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $158.55.
In other news, insider Lange Bob De acquired 1,080 shares of Caterpillar stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the transaction, the insider now owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction dated 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 transaction, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
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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