Caterpillar, Inc. (CAT) Shares Bought by New York State Teachers Retirement System
New York State Teachers Retirement System lifted its position in Caterpillar, Inc. (NYSE:CAT) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 954,367 shares of the industrial products company’s stock after purchasing an additional 4,193 shares during the quarter. New York State Teachers Retirement System owned approximately 0.16% of Caterpillar worth $119,019,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ramsay Stattman Vela & Price Inc. acquired a new stake in Caterpillar during the 3rd quarter worth approximately $237,000. Wright Investors Service Inc. acquired a new stake in Caterpillar during the 3rd quarter worth approximately $257,000. Westpac Banking Corp lifted its position in Caterpillar by 9.8% during the 3rd quarter. Westpac Banking Corp now owns 50,261 shares of the industrial products company’s stock worth $6,268,000 after acquiring an additional 4,498 shares during the period. Bollard Group LLC lifted its position in Caterpillar by 1.5% during the 3rd quarter. Bollard Group LLC now owns 129,353 shares of the industrial products company’s stock worth $16,132,000 after acquiring an additional 1,915 shares during the period. Finally, Bremer Trust National Association acquired a new stake in Caterpillar during the 3rd quarter worth approximately $201,000. 69.19% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Bradley M. Halverson sold 17,210 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the completion of the transaction, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 1,572 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were 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 directly owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Insiders sold a total of 47,142 shares of company stock valued at $6,433,232 over the last ninety days. 0.14% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $135.41 price objective for the company in a research report on Monday, November 13th. Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a research report on Monday, October 30th. BMO Capital Markets increased their price objective on Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Argus increased their price objective on Caterpillar from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Citigroup Inc. increased their target price on Caterpillar from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and a consensus price target of $133.92.
Caterpillar, Inc. (NYSE CAT) opened at $137.39 on Friday. Caterpillar, Inc. has a one year low of $90.34 and a one year high of $140.44. The stock has a market capitalization of $81,737.98, a P/E ratio of 24.75, a PEG ratio of 2.08 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business posted $0.85 EPS. Caterpillar’s quarterly revenue was up 24.6% on a year-over-year basis. research analysts anticipate that Caterpillar, Inc. will post 6.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, October 23rd were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s payout ratio is currently 216.67%.
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Caterpillar Company Profile
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