Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,290,431 shares of the industrial products company’s stock after acquiring an additional 50,927 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.39% of Caterpillar worth $349,268,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC grew its position in shares of Caterpillar by 11.1% in the 2nd quarter. Fisher Asset Management LLC now owns 7,501 shares of the industrial products company’s stock valued at $1,018,000 after buying an additional 752 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Caterpillar by 2.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock valued at $8,446,000 after buying an additional 1,367 shares during the last quarter. FormulaFolio Investments LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $887,000. Manning & Napier Group LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $11,508,000. Finally, Atria Investments LLC boosted its position in shares of Caterpillar by 11.4% during the 2nd quarter. Atria Investments LLC now owns 10,182 shares of the industrial products company’s stock valued at $1,381,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 66.56% of the company’s stock.

CAT has been the topic of several research analyst reports. Robert W. Baird upgraded Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 target price on the stock in a research report on Thursday, September 20th. Citigroup upgraded Caterpillar to an “outperform” rating in a research report on Friday, September 21st. OTR Global lowered Caterpillar to a “positive” rating in a research report on Friday, September 21st. Macquarie restated a “sell” rating on shares of Caterpillar in a research report on Thursday, October 11th. Finally, UBS Group set a $185.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Caterpillar currently has a consensus rating of “Buy” and an average target price of $158.55.

In other news, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now directly owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De acquired 1,080 shares of the stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $115.58 per share, with a total value of $124,826.40. Following the completion of the purchase, the insider now owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.

CAT stock opened at $126.91 on Monday. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $173.24. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market cap of $74.89 billion, a P/E ratio of 18.45, a PEG ratio of 0.70 and a beta of 1.58.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The business had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $13.28 billion. During the same period in the prior year, the business earned $1.95 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 11.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s dividend payout ratio (DPR) is currently 50.00%.

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Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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