Caterpillar Inc. $CAT Shares Sold by Danske Bank A S

Danske Bank A S cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 12.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 215,450 shares of the industrial products company’s stock after selling 29,414 shares during the period. Danske Bank A S’s holdings in Caterpillar were worth $174,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Decker Retirement Planning Inc. boosted its position in Caterpillar by 440.0% during the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 22 shares in the last quarter. PFS Partners LLC increased its position in shares of Caterpillar by 1,750.0% in the third quarter. PFS Partners LLC now owns 37 shares of the industrial products company’s stock valued at $30,000 after buying an additional 35 shares in the last quarter. Matrix Trust Co increased its position in shares of Caterpillar by 93.8% in the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after buying an additional 15 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in shares of Caterpillar in the second quarter valued at approximately $36,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.9%

Shares of CAT traded down $5.48 during midday trading on Friday, reaching $599.80. The company had a trading volume of 2,287,211 shares, compared to its average volume of 3,857,929. The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. The firm has a 50 day simple moving average of $740.65 and a 200-day simple moving average of $805.20. Caterpillar Inc. has a 1-year low of $537.08 and a 1-year high of $1,073.46. The stock has a market cap of $274.46 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.14. The company had revenue of $20.68 billion for the quarter, compared to analyst estimates of $20.76 billion. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. Caterpillar’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.95 EPS. Research analysts forecast that Caterpillar Inc. will post 27.38 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, October 26th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is currently 25.58%.

Analyst Ratings Changes

CAT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Wells Fargo & Company dropped their price target on shares of Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Morgan Stanley cut their price target on shares of Caterpillar from $915.00 to $675.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. DA Davidson reduced their price objective on shares of Caterpillar from $882.00 to $685.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Finally, Weiss Ratings downgraded shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 29th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $898.25.

Trending Headlines about Caterpillar

These are some of the CAT headlines that stood out recently:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Positive Sentiment: Investor Kevin Simpson reportedly bought more CAT shares, a favorable sentiment signal, though the article does not provide the rationale or size of the purchase. Trade tracker: Kevin Simpson buys more Caterpillar
• Neutral Sentiment: A Trefis article examines how much downside may remain, but the provided summary gives no forecast or specific price target. How Much Downside Is Left In Caterpillar Stock?

Insider Buying and Selling

In related news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the sale, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Jr acquired 1,000 shares of Caterpillar stock in a transaction that occurred on Monday, November 2nd. The stock was bought at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the completion of the acquisition, the director owned 4,714 shares in the company, valued at $2,924,518.46. This trade represents a 26.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.33% of the company’s stock.

About Caterpillar

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.