CORDA Investment Management LLC. Sells 68 Shares of Caterpillar Inc. (NYSE:CAT)

CORDA Investment Management LLC. lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,313 shares of the industrial products company’s stock after selling 68 shares during the period. CORDA Investment Management LLC.’s holdings in Caterpillar were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CAT. Norden Group LLC bought a new position in shares of Caterpillar in the 1st quarter valued at about $672,000. Jennison Associates LLC raised its position in Caterpillar by 26.4% in the 1st quarter. Jennison Associates LLC now owns 267,888 shares of the industrial products company’s stock worth $98,162,000 after purchasing an additional 55,935 shares during the period. Patron Partners LLC purchased a new stake in Caterpillar in the 1st quarter worth about $224,000. Central Pacific Bank Trust Division purchased a new stake in Caterpillar in the 1st quarter worth about $379,000. Finally, Comprehensive Financial Consultants Institutional Inc. raised its position in Caterpillar by 8.9% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 1,646 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 135 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $379.63 on Monday. The firm has a market cap of $184.08 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.85 and a beta of 1.10. The company’s 50 day moving average is $372.40 and its 200 day moving average is $351.32. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52-week low of $233.57 and a 52-week high of $403.60.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $5.52 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.82 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.49%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CAT shares. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Citigroup reduced their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI reduced their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $357.56.

Caterpillar 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.