Eastern Bank Sells 82,060 Shares of Caterpillar Inc. (NYSE:CAT)

Eastern Bank reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 89.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,513 shares of the industrial products company’s stock after selling 82,060 shares during the quarter. Eastern Bank’s holdings in Caterpillar were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Bartlett & Co. LLC grew its position in shares of Caterpillar by 922.6% in the 3rd quarter. Bartlett & Co. LLC now owns 2,577 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 2,325 shares during the period. Tibra Equities Europe Ltd grew its position in shares of Caterpillar by 18.8% in the 3rd quarter. Tibra Equities Europe Ltd now owns 17,700 shares of the industrial products company’s stock valued at $2,236,000 after purchasing an additional 2,800 shares during the period. Strategic Wealth Advisors Group LLC grew its position in shares of Caterpillar by 39.8% in the 3rd quarter. Strategic Wealth Advisors Group LLC now owns 15,781 shares of the industrial products company’s stock valued at $1,945,000 after purchasing an additional 4,496 shares during the period. Boston Private Wealth LLC grew its position in shares of Caterpillar by 4.1% in the 3rd quarter. Boston Private Wealth LLC now owns 6,190 shares of the industrial products company’s stock valued at $782,000 after purchasing an additional 241 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Caterpillar by 5.9% in the 3rd quarter. Parallel Advisors LLC now owns 5,148 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 285 shares during the period. 65.74% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the company. Royal Bank of Canada reiterated a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 14th. Morgan Stanley decreased their price objective on Caterpillar from $145.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a research report on Monday, September 30th. UBS Group decreased their price objective on Caterpillar to $110.00 and set a “sell” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup decreased their price objective on Caterpillar from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Caterpillar has an average rating of “Hold” and an average target price of $138.76.

NYSE:CAT traded up $0.92 during trading hours on Friday, reaching $147.93. 261,973 shares of the stock were exchanged, compared to its average volume of 4,852,125. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $148.40. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.44 and a quick ratio of 0.99. The firm has a 50 day moving average of $131.31 and a 200 day moving average of $129.06. The stock has a market cap of $80.89 billion, a PE ratio of 13.20, a PEG ratio of 1.54 and a beta of 1.53.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The firm had revenue of $12.76 billion for the quarter, compared to analyst estimates of $13.49 billion. During the same period last year, the company earned $2.86 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 10.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s payout ratio is presently 36.72%.

In other news, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Denise C. Johnson sold 68,993 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $146.37, for a total value of $10,098,505.41. In the last three months, insiders sold 95,141 shares of company stock valued at $13,717,142. 0.37% of the stock is currently owned by insiders.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

Featured Article: The role of implied volatility with call option volume

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply