Phoenix Financial Ltd. Sells 1,311 Shares of Caterpillar Inc. $CAT

Phoenix Financial Ltd. lessened its position in Caterpillar Inc. (NYSE:CAT) by 17.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,122 shares of the industrial products company’s stock after selling 1,311 shares during the period. Phoenix Financial Ltd.’s holdings in Caterpillar were worth $4,964,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Decker Retirement Planning Inc. grew its position in Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 22 shares during the last quarter. PFS Partners LLC increased its stake in shares of Caterpillar by 1,750.0% in the third quarter. PFS Partners LLC now owns 37 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 35 shares during the period. Matrix Trust Co raised its holdings in shares of Caterpillar by 93.8% during the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after buying an additional 15 shares during the last quarter. Axiom Investment Management LLC bought a new stake in shares of Caterpillar during the second quarter valued at approximately $36,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of Caterpillar during the first quarter worth approximately $46,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $5.48 during trading on Friday, reaching $599.80. The company had a trading volume of 2,287,211 shares, compared to its average volume of 3,857,929. The firm’s fifty day moving average is $740.65 and its 200 day moving average is $805.20. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. The firm has a market capitalization of $274.46 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. Caterpillar Inc. has a twelve month low of $537.08 and a twelve month high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.14. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The business had revenue of $20.68 billion for the quarter, compared to analyst estimates of $20.76 billion. During the same quarter last year, the business earned $4.95 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 27.38 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, October 26th. This represents a $6.52 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is 25.58%.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Erste Group Bank downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Needham & Company LLC set a $980.00 price target on Caterpillar in a research report on Thursday, September 10th. Oppenheimer reiterated an “outperform” rating and set a $1,009.00 price target on shares of Caterpillar in a research report on Thursday, October 29th. Finally, JPMorgan Chase & Co. decreased their price target on Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $898.25.

Latest Caterpillar News

These are some of the CAT news items that stood out recently:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Neutral Sentiment: A Trefis article examines how much downside may remain, but the provided summary gives no forecast or specific price target. How Much Downside Is Left In Caterpillar Stock?
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Caterpillar investors. The release does not detail the claims, but the investigation could add legal uncertainty. Pomerantz Law Firm Investigates Claims

Insider Transactions at Caterpillar

In other Caterpillar news, Director James C. Fish, Jr. purchased 1,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was bought at an average cost of $620.39 per share, with a total value of $620,390.00. Following the acquisition, the director owned 4,714 shares of the company’s stock, valued at $2,924,518.46. The trade was a 26.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Maclennan bought 350 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The stock was acquired at an average price of $596.10 per share, for a total transaction of $208,635.00. Following the completion of the acquisition, the director directly owned 8,773 shares in the company, valued at approximately $5,229,585.30. This represents a 4.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.