Caterpillar, Inc. (CAT) Holdings Reduced by National Asset Management Inc.
National Asset Management Inc. reduced its stake in Caterpillar, Inc. (NYSE:CAT) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,168 shares of the industrial products company’s stock after selling 293 shares during the period. National Asset Management Inc.’s holdings in Caterpillar were worth $557,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in CAT. Vanguard Group Inc. increased its stake in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares during the last quarter. FMR LLC increased its stake in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Caterpillar in the first quarter valued at approximately $143,490,000. Morgan Stanley increased its stake in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its stake in Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after purchasing an additional 1,216,053 shares during the last quarter. Institutional investors own 69.41% of the company’s stock.
Several equities analysts have commented on CAT shares. BidaskClub upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Seaport Global Securities started coverage on shares of Caterpillar in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 price target on the stock. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a research note on Wednesday, July 26th. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target on the stock. in a research note on Tuesday, August 22nd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $146.00 price target (up from $133.00) on shares of Caterpillar in a research note on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $133.76.
Caterpillar, Inc. (NYSE CAT) opened at $136.48 on Friday. The stock has a market capitalization of $81,196.59, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.04. Caterpillar, Inc. has a 52-week low of $90.34 and a 52-week high of $140.44.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The firm had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. Caterpillar’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. equities analysts expect that Caterpillar, Inc. will post 6.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, October 23rd will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio is currently 216.67%.
In other news, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the transaction, the insider now owns 11,096 shares in the company, valued at $1,526,587.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel M. Dickinson sold 3,813 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the transaction, the director now owns 6,554 shares of the company’s stock, valued at approximately $898,487.86. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
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