State Treasurer State of Michigan lessened its holdings in Caterpillar, Inc. (NYSE:CAT) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,366 shares of the industrial products company’s stock after selling 14,300 shares during the quarter. State Treasurer State of Michigan’s holdings in Caterpillar were worth $22,369,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Robeco Institutional Asset Management B.V. raised its holdings in Caterpillar by 14.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 186,244 shares of the industrial products company’s stock worth $23,226,000 after purchasing an additional 24,201 shares during the last quarter. Tompkins Financial Corp raised its holdings in Caterpillar by 14.0% during the 3rd quarter. Tompkins Financial Corp now owns 3,535 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 435 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Caterpillar during the 3rd quarter worth approximately $3,119,000. Howe & Rusling Inc. raised its holdings in Caterpillar by 146.1% during the 3rd quarter. Howe & Rusling Inc. now owns 2,190 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Moloney Securities Asset Management LLC grew its position in shares of Caterpillar by 10.0% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 7,955 shares of the industrial products company’s stock worth $992,000 after buying an additional 725 shares during the period. Institutional investors and hedge funds own 69.38% of the company’s stock.
CAT has been the subject of several research reports. BMO Capital Markets reissued a “buy” rating and issued a $130.00 price target on shares of Caterpillar in a research report on Friday, September 8th. Vetr cut 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 LLC restated a “hold” rating and set a $100.00 price objective on shares of Caterpillar in a research note on Tuesday, August 29th. Credit Suisse Group restated a “hold” rating and set a $133.00 price objective on shares of Caterpillar in a research note on Friday, September 22nd. Finally, The Goldman Sachs Group, Inc. raised their price objective on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $133.92.
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Caterpillar, Inc. (NYSE CAT) opened at $136.36 on Friday. Caterpillar, Inc. has a twelve month low of $90.34 and a twelve month high of $140.44. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $79,780.61, a PE ratio of 24.16, a PEG ratio of 2.03 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. Caterpillar’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. research analysts forecast that Caterpillar, Inc. will post 6.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, October 23rd will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.29%. Caterpillar’s payout ratio is currently 216.67%.
In related news, insider Lange Bob De sold 1,572 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total value of $216,275.76. Following the sale, the insider now directly owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 3,813 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the completion of the sale, the director now directly owns 6,554 shares in the company, valued at $898,487.86. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
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