Caterpillar, Inc. (CAT) Position Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 19.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 269,749 shares of the industrial products company’s stock after selling 63,230 shares during the period. Nuveen Asset Management LLC’s holdings in Caterpillar were worth $25,022,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock valued at $1,628,992,000 after buying an additional 1,798,312 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Caterpillar during the first quarter valued at about $143,490,000. Morgan Stanley boosted its stake in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Vanguard Group Inc. boosted its stake in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock valued at $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in Caterpillar by 507.9% in the first quarter. Cibc World Markets Corp now owns 1,276,465 shares of the industrial products company’s stock valued at $118,405,000 after buying an additional 1,066,492 shares during the last quarter. Hedge funds and other institutional investors own 70.27% of the company’s stock.

Caterpillar, Inc. (NYSE:CAT) traded up 0.94% during midday trading on Friday, reaching $114.20. The company’s stock had a trading volume of 1,850,140 shares. The stock has a market cap of $67.49 billion, a P/E ratio of 637.99 and a beta of 1.25. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $115.46. The stock’s 50 day moving average is $110.79 and its 200 day moving average is $101.65.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. Analysts anticipate that Caterpillar, Inc. will post $5.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, August 19th. Stockholders of record on Thursday, July 20th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s payout ratio is presently 2,080.00%.

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Several equities research analysts have recently issued reports on CAT shares. Bank of America Corporation upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $120.00 in a research report on Thursday, May 11th. Stifel Nicolaus reduced their price objective on shares of Caterpillar from $111.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, April 26th. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Friday, June 16th. Vetr cut shares of Caterpillar from a “sell” rating to a “strong sell” rating and set a $86.90 price objective on the stock. in a research report on Tuesday, April 25th. Finally, Zacks Investment Research cut shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $107.15.

In other news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. In the last three months, insiders sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.

Caterpillar Company Profile

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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