Caterpillar Inc. $CAT Stock Position Lowered by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 12.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,111 shares of the industrial products company’s stock after selling 40,943 shares during the quarter. Rockefeller Capital Management L.P. owned 0.06% of Caterpillar worth $109,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alberta Investment Management Corp increased its position in shares of Caterpillar by 54.5% in the second quarter. Alberta Investment Management Corp now owns 19,000 shares of the industrial products company’s stock worth $7,376,000 after acquiring an additional 6,700 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Caterpillar by 0.8% in the 2nd quarter. Kingsview Wealth Management LLC now owns 11,159 shares of the industrial products company’s stock valued at $4,332,000 after buying an additional 86 shares in the last quarter. Cornerstone Advisors LLC raised its holdings in shares of Caterpillar by 26.0% during the 2nd quarter. Cornerstone Advisors LLC now owns 46,000 shares of the industrial products company’s stock valued at $17,858,000 after purchasing an additional 9,500 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Caterpillar by 10.3% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 29,146 shares of the industrial products company’s stock worth $11,315,000 after acquiring an additional 2,726 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Caterpillar by 2.2% during the 2nd quarter. Avantax Advisory Services Inc. now owns 50,185 shares of the industrial products company’s stock worth $19,482,000 after buying an additional 1,094 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the transaction, the insider directly owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,229 shares of company stock valued at $43,323,118 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CAT shares. HSBC raised shares of Caterpillar from a “hold” rating to a “buy” rating and upped their price objective for the company from $405.00 to $660.00 in a research report on Wednesday, November 5th. Oppenheimer boosted their price objective on Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Jefferies Financial Group increased their price objective on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Citigroup increased their price objective on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $600.94.

Caterpillar Stock Down 0.1%

Caterpillar stock opened at $552.74 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The company has a fifty day simple moving average of $506.27 and a 200 day simple moving average of $427.79. The company has a market cap of $258.67 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the prior year, the business posted $5.17 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.