Caterpillar, Inc. (CAT) Shares Sold by Harris Associates L P
Harris Associates L P lowered its stake in Caterpillar, Inc. (NYSE:CAT) by 25.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,767,448 shares of the industrial products company’s stock after selling 2,314,221 shares during the period. Caterpillar accounts for approximately 1.3% of Harris Associates L P’s holdings, making the stock its 20th biggest holding. Harris Associates L P owned 1.15% of Caterpillar worth $727,230,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Employees Retirement System of Texas increased its position in shares of Caterpillar by 13.4% in the 2nd quarter. Employees Retirement System of Texas now owns 118,500 shares of the industrial products company’s stock worth $12,734,000 after purchasing an additional 14,000 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $15,718,000. People s United Financial Inc. increased its position in shares of Caterpillar by 1.7% in the 2nd quarter. People s United Financial Inc. now owns 68,755 shares of the industrial products company’s stock worth $7,389,000 after purchasing an additional 1,125 shares during the last quarter. First Allied Advisory Services Inc. increased its position in shares of Caterpillar by 6.9% in the 2nd quarter. First Allied Advisory Services Inc. now owns 23,943 shares of the industrial products company’s stock worth $2,573,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Sandhill Capital Partners LLC increased its position in shares of Caterpillar by 7.9% in the 2nd quarter. Sandhill Capital Partners LLC now owns 5,224 shares of the industrial products company’s stock worth $561,000 after purchasing an additional 381 shares during the last quarter. 69.34% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on CAT shares. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Friday, July 14th. BMO Capital Markets raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $110.00 to $125.00 in a research report on Monday, July 24th. BidaskClub downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $133.70.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The firm had revenue of $11.41 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue was up 24.6% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, October 20th. Caterpillar’s dividend payout ratio is currently 216.67%.
In other Caterpillar news, insider Lange Bob De sold 1,572 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the sale, the insider now owns 11,096 shares of the company’s stock, valued at approximately $1,526,587.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $137.09, for a total transaction of $522,724.17. Following the sale, the director now directly owns 6,554 shares in the company, valued at approximately $898,487.86. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
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