Caterpillar Inc. $CAT Stock Sold by BDF Gestion

BDF Gestion lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,438 shares of the industrial products company’s stock after selling 817 shares during the quarter. Caterpillar comprises 0.7% of BDF Gestion’s investment portfolio, making the stock its 29th largest position. BDF Gestion’s holdings in Caterpillar were worth $5,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Caterpillar in the 2nd quarter worth $40,457,153,000. State Street Corp lifted its holdings in shares of Caterpillar by 4.0% during the 2nd quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock worth $37,120,529,000 after acquiring an additional 1,396,356 shares during the last quarter. Bank of America Corp DE bought a new position in Caterpillar in the second quarter valued at $5,818,150,000. Bank of New York Mellon Corp bought a new position in Caterpillar in the second quarter valued at $3,192,710,000. Finally, Legal & General Group Plc purchased a new stake in Caterpillar during the second quarter valued at about $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.6%

CAT stock traded down $4.12 during trading on Monday, hitting $726.64. 1,114,829 shares of the company traded hands, compared to its average volume of 2,817,429. The company has a 50-day moving average of $812.24 and a 200-day moving average of $856.69. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. Caterpillar Inc. has a 1 year low of $510.21 and a 1 year high of $1,073.46. The firm has a market capitalization of $334.02 billion, a PE ratio of 31.28, a P/E/G ratio of 1.26 and a beta of 1.58.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion for the quarter, compared to analysts’ expectations of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.72 EPS. Analysts predict that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $6.52 annualized dividend and a yield of 0.9%. Caterpillar’s dividend payout ratio is presently 28.06%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CAT. DA Davidson lifted their price target on Caterpillar from $845.00 to $882.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Truist Financial reduced their price objective on Caterpillar from $1,225.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Needham & Company LLC set a $980.00 price objective on Caterpillar in a report on Thursday, September 10th. Weiss Ratings upgraded Caterpillar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Finally, President Capital started coverage on shares of Caterpillar in a research report on Friday, September 18th. They set a “buy” rating and a $999.00 price target on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $967.83.

Insiders Place Their Bets

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the sale, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Caterpillar Profile

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.