National Asset Management Inc. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,878 shares of the industrial products company’s stock after acquiring an additional 886 shares during the period. National Asset Management Inc.’s holdings in Caterpillar were worth $3,387,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Demars Financial Group LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $28,000. Moisand Fitzgerald Tamayo LLC increased its position in Caterpillar by 317.2% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 242 shares of the industrial products company’s stock valued at $36,000 after buying an additional 184 shares in the last quarter. JJJ Advisors Inc. raised its stake in Caterpillar by 149.0% during the 3rd quarter. JJJ Advisors Inc. now owns 249 shares of the industrial products company’s stock worth $37,000 after buying an additional 149 shares during the period. RMR Wealth Builders bought a new position in Caterpillar in the second quarter worth approximately $44,000. Finally, Keebeck Wealth Management LLC bought a new position in Caterpillar in the second quarter worth approximately $47,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.
In other Caterpillar news, insider Lange Bob De sold 1,575 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $147.00, for a total transaction of $231,525.00. Following the sale, the insider now owns 30,798 shares of the company’s stock, valued at approximately $4,527,306. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Gary Michael Marvel sold 6,498 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $154.39, for a total transaction of $1,003,226.22. Following the sale, the chief accounting officer now directly owns 2,180 shares in the company, valued at approximately $336,570.20. The disclosure for this sale can be found here. In the last three months, insiders sold 35,154 shares of company stock valued at $5,631,946. 0.31% of the stock is currently owned by insiders.
CAT traded down $1.83 during midday trading on Tuesday, reaching $171.36. The company had a trading volume of 33,849 shares, compared to its average volume of 4,062,561. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.08 and a current ratio of 1.54. The stock has a market cap of $94.09 billion, a PE ratio of 28.82, a P/E/G ratio of 2.60 and a beta of 0.99. The business has a 50-day moving average price of $160.94 and a two-hundred day moving average price of $138.91. Caterpillar Inc. has a 12-month low of $87.50 and a 12-month high of $176.37.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.19. The business had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.78 billion. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. Caterpillar’s revenue was down 22.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.66 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 5.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Monday, October 26th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, October 23rd. Caterpillar’s dividend payout ratio (DPR) is currently 37.25%.
A number of equities analysts recently issued reports on the company. Stifel Nicolaus lifted their price target on shares of Caterpillar from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Royal Bank of Canada boosted their target price on shares of Caterpillar from $130.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 28th. Morgan Stanley raised their price target on shares of Caterpillar from $120.00 to $122.00 and gave the company an “underweight” rating in a research report on Wednesday, October 28th. Citigroup lifted their price target on Caterpillar from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Finally, Sanford C. Bernstein began coverage on Caterpillar in a report on Tuesday, September 22nd. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. Caterpillar has an average rating of “Hold” and a consensus target price of $148.11.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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).
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.