The Oregon Public Employees Retirement Fund reduced its stake in shares of Caterpillar Inc. (NYSE: CAT – Get Rating) by 3.2% during the third quarter, according to its latest communication with the Securities & Exchange. Commission. The company held 40,486 shares of the industrial products company after selling 1,330 shares during the period. The Oregon Public Employees Retirement Fund’s holdings in Caterpillar were worth $6,643,000 at the end of the last quarter.
A number of other institutional investors and hedge funds have also recently changed their stock holdings. BCK Partners Inc. bought a new position in Caterpillar stock during the first quarter worth $2,580,000. Sei Investments Co. increased its holdings of Caterpillar shares by 17.3% in the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company valued at $14,634,000 after buying an additional 9,695 shares last quarter. Dakota Wealth Management bought a new position in Caterpillar stock during the first quarter worth $405,000. Mather Group LLC. increased its holdings of Caterpillar shares by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company valued at $577,000 after buying an additional 165 shares last quarter. Finally, NewEdge Advisors LLC increased its holdings of Caterpillar shares by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company valued at $11,075,000 after buying 2,076 additional shares last quarter. 68.02% of the shares are held by institutional investors and hedge funds.
Changes to analyst ratings
A number of research analysts have weighed in on CAT shares recently. Credit Suisse Group raised its price target on Caterpillar from $236.00 to $255.00 and gave the company an “outperform” rating in a Friday, Oct. 28 report. UBS Group downgraded Caterpillar from a “buy” rating to a “neutral” rating and raised its target price for the company from $225.00 to $230.00 in a Monday, October 31 research note. Bank of America upgraded Caterpillar from a “neutral” rating to a “buy” rating and raised its target price for the company from $217.00 to $295.00 in a research note on Friday. Cowen raised his target price on Caterpillar from $240.00 to $264.00 in a Friday, Dec. 9 research note. Finally, Daiwa Capital Markets raised its price target on Caterpillar to $205.00 in a Tuesday, November 1 research note. One research analyst rated the stock with a sell rating, five gave the stock a hold rating, and ten gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.00.
Insider Buying and Selling at Caterpillar
In other news, Lange insider Bob De sold 11,000 shares of the company in a trade that took place on Monday, January 9. The stock was sold at an average price of $250.00, for a total value of $2,750,000.00. Following the sale, the insider now directly owns 44,559 shares of the company, valued at approximately $11,139,750. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Separately, General Counsel Suzette M. Long sold 1,884 shares in a transaction that took place on Friday, November 11. The stock was sold at an average price of $237.28, for a total transaction of $447,035.52. Following the sale, the General Counsel now directly owns 8,665 shares of the company, valued at approximately $2,056,031.20. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, Lange insider Bob De sold 11,000 shares in a trade that took place on Monday, January 9. The stock was sold at an average price of $250.00, for a total value of $2,750,000.00. Following the sale, the insider now owns 44,559 shares of the company, valued at $11,139,750. The disclosure of this sale can be found here. Insiders sold a total of 54,915 shares of the company worth $13,452,445 during the last quarter. Company insiders own 0.27% of the company’s shares.
Caterpillar trades up 1.3%
Caterpillar stock opened at $258.46 on Tuesday. The company has a 50-day moving average price of $237.53 and a two-hundred-day moving average price of $204.02. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt ratio of 1.63. The stock has a market capitalization of $134.51 billion, a price-to-earnings ratio of 18.77, a growth price-to-earnings ratio of 1.41 and a beta of 1.11. Caterpillar Inc. has a 12-month low of $160.60 and a 12-month high of $258.58.
Caterpillar (NYSE:CAT – Get Rating) last released its quarterly results on Thursday, October 27. The industrial products company reported EPS of $3.95 for the quarter, beating the consensus estimate of $3.19 by $0.76. The company posted revenue of $14.99 billion in the quarter, compared to $14.34 billion expected by analysts. Caterpillar had a return on equity of 41.76% and a net margin of 13.02%. As a group, stock analysts expect Caterpillar Inc. to post EPS of 13.85 for the current year.
Caterpillar announces dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 17. Shareholders of record on Friday, January 20 will receive a dividend of $1.20. The ex-date of this dividend is Thursday, January 19. This represents an annualized dividend of $4.80 and a yield of 1.86%. Caterpillar’s dividend payout ratio (DPR) is 34.86%.
Caterpillar Company Profile
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, combines, graders, pipelayers, road reclaimers, skidders, telehandlers and commercial vehicles ; excavators, knuckleboom, compact tracked, multi-terrain, skid steer and tracked; forestry and wheeled excavators; and site preparation and crawler tractors.
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