River & Mercantile Asset Management LLP Takes $4.65 Million Position in Caterpillar Inc. (CAT)

River & Mercantile Asset Management LLP purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,510 shares of the industrial products company’s stock, valued at approximately $4,653,000.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Caterpillar by 2.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,290,431 shares of the industrial products company’s stock valued at $349,268,000 after acquiring an additional 50,927 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Caterpillar by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,163,986 shares of the industrial products company’s stock valued at $329,982,000 after acquiring an additional 16,752 shares during the period. Swiss National Bank raised its stake in shares of Caterpillar by 3.5% in the second quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock valued at $268,086,000 after acquiring an additional 67,200 shares during the period. Janus Henderson Group PLC raised its stake in shares of Caterpillar by 23.6% in the second quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock valued at $265,581,000 after acquiring an additional 374,038 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Caterpillar by 17.5% in the third quarter. Schroder Investment Management Group now owns 1,605,440 shares of the industrial products company’s stock valued at $244,814,000 after acquiring an additional 238,948 shares during the period. 66.86% of the stock is currently owned by institutional investors.

Shares of Caterpillar stock opened at $123.55 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60. Caterpillar Inc. has a 1 year low of $112.06 and a 1 year high of $173.24. The stock has a market cap of $75.75 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.61.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The company had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $13.28 billion. During the same period in the prior year, the business earned $1.95 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Friday, October 19th. Caterpillar’s payout ratio is 50.00%.

In other Caterpillar news, 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 transaction of $5,404,163.18. Following the transaction, the insider now directly owns 22,826 shares in the company, valued at approximately $3,519,312.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De bought 1,080 shares of the company’s stock in a transaction on Friday, October 26th. The shares were acquired at an average price of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the acquisition, the insider now owns 11,310 shares in the company, valued at $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on the stock. Macquarie set a $130.00 target price on shares of Caterpillar and gave the company a “sell” rating in a research note on Tuesday, September 25th. Robert W. Baird set a $171.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research note on Wednesday, October 24th. OTR Global cut shares of Caterpillar to a “positive” rating in a report on Friday, September 21st. Oppenheimer initiated coverage on shares of Caterpillar in a report on Friday, September 7th. They issued a “market perform” rating on the stock. They noted that the move was a valuation call. Finally, Deutsche Bank set a $177.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Caterpillar currently has a consensus rating of “Buy” and a consensus target price of $158.90.

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About Caterpillar

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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