Connective Portfolio Management LLC Makes New Investment in Caterpillar Inc. $CAT

Connective Portfolio Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,000 shares of the industrial products company’s stock, valued at approximately $943,000. Caterpillar makes up 1.7% of Connective Portfolio Management LLC’s portfolio, making the stock its 26th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its stake in shares of Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. Norges Bank purchased a new position in Caterpillar in the 2nd quarter worth approximately $2,165,899,000. Assenagon Asset Management S.A. grew its position in Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after acquiring an additional 712,711 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Caterpillar by 425.2% during the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock valued at $295,738,000 after purchasing an additional 616,739 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Caterpillar by 36.9% during the third quarter. Voya Investment Management LLC now owns 1,777,589 shares of the industrial products company’s stock worth $848,177,000 after purchasing an additional 478,972 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the sale, the insider directly owned 41,512 shares in the company, valued at approximately $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 10,707 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This trade represents a 55.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,895 shares of company stock worth $34,007,516. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.1%

CAT stock opened at $583.09 on Friday. The firm has a market cap of $272.88 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 2.74 and a beta of 1.57. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $627.50. The firm has a fifty day moving average price of $568.28 and a two-hundred day moving average price of $476.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same period last year, the firm posted $5.17 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio is 31.01%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Wells Fargo & Company began coverage on Caterpillar in a report on Thursday, November 13th. They set an “overweight” rating and a $675.00 price objective on the stock. DA Davidson increased their target price on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Sanford C. Bernstein raised their price target on shares of Caterpillar from $557.00 to $630.00 and gave the stock a “market perform” rating in a research report on Friday, December 19th. Finally, Citigroup raised shares of Caterpillar from a “buy” rating to a “mixed” rating in a report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $616.00.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.