Caterpillar, Inc. (CAT) Stake Lowered by NorthCoast Asset Management LLC
NorthCoast Asset Management LLC decreased its position in Caterpillar, Inc. (NYSE:CAT) by 37.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,557 shares of the industrial products company’s stock after selling 95,971 shares during the quarter. Caterpillar makes up approximately 2.3% of NorthCoast Asset Management LLC’s portfolio, making the stock its 14th largest holding. NorthCoast Asset Management LLC’s holdings in Caterpillar were worth $19,898,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Peregrine Asset Advisers Inc. grew its stake in shares of Caterpillar by 963.8% in the third quarter. Peregrine Asset Advisers Inc. now owns 79,616 shares of the industrial products company’s stock worth $9,929,000 after acquiring an additional 72,132 shares during the last quarter. Keel Point LLC acquired a new stake in shares of Caterpillar in the third quarter worth $209,000. Davidson Investment Advisors grew its stake in shares of Caterpillar by 11.9% in the third quarter. Davidson Investment Advisors now owns 3,665 shares of the industrial products company’s stock worth $457,000 after acquiring an additional 390 shares during the last quarter. Private Advisory Group LLC grew its stake in shares of Caterpillar by 22.9% in the third quarter. Private Advisory Group LLC now owns 9,859 shares of the industrial products company’s stock worth $1,230,000 after acquiring an additional 1,839 shares during the last quarter. Finally, Norinchukin Bank The grew its stake in shares of Caterpillar by 1.0% in the third quarter. Norinchukin Bank The now owns 106,545 shares of the industrial products company’s stock worth $13,287,000 after acquiring an additional 1,067 shares during the last quarter. 68.61% of the stock is currently owned by institutional investors.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at $148.57 on Thursday. Caterpillar, Inc. has a 52 week low of $90.34 and a 52 week high of $149.05. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. The company has a market cap of $85,325.38, a price-to-earnings ratio of 25.84, a PEG ratio of 2.16 and a beta of 1.29.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The company had revenue of $11.41 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. sell-side analysts expect that Caterpillar, Inc. will post 6.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.10%. Caterpillar’s dividend payout ratio is presently 216.67%.
In other news, Director Daniel M. Dickinson sold 3,813 shares of the business’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 sale, the director now owns 6,554 shares in the company, valued at approximately $898,487.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the sale, the insider now owns 11,096 shares in the company, valued at approximately $1,526,587.68. The disclosure for this sale can be found here. Insiders sold a total of 52,989 shares of company stock worth $7,235,850 in the last 90 days. 0.14% of the stock is owned by corporate insiders.
CAT has been the topic of several research analyst reports. BMO Capital Markets restated a “buy” rating and issued a $130.00 price objective on shares of Caterpillar in a research note on Friday, September 8th. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective on the stock. in a research note on Monday, September 11th. Jefferies Group restated a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a research note on Tuesday, August 29th. Credit Suisse Group reiterated a “hold” rating and set a $133.00 price target on shares of Caterpillar in a research note on Friday, September 22nd. Finally, Goldman Sachs Group lifted their price target on shares of Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $139.14.
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