Banque Pictet & Cie SA decreased its holdings in Caterpillar, Inc. (NYSE:CAT) by 36.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,200 shares of the industrial products company’s stock after selling 10,000 shares during the period. Banque Pictet & Cie SA’s holdings in Caterpillar were worth $2,145,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Spectrum Management Group Inc. purchased a new position in Caterpillar during the third quarter valued at approximately $431,000. Ameriprise Financial Inc. grew its stake in Caterpillar by 25.1% during the third quarter. Ameriprise Financial Inc. now owns 1,552,266 shares of the industrial products company’s stock valued at $193,530,000 after acquiring an additional 311,596 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in Caterpillar during the third quarter valued at approximately $246,000. Commonwealth Equity Services Inc grew its stake in Caterpillar by 2.7% during the third quarter. Commonwealth Equity Services Inc now owns 307,399 shares of the industrial products company’s stock valued at $38,335,000 after acquiring an additional 7,975 shares in the last quarter. Finally, Ashfield Capital Partners LLC grew its stake in Caterpillar by 222.7% during the third quarter. Ashfield Capital Partners LLC now owns 52,696 shares of the industrial products company’s stock valued at $6,572,000 after acquiring an additional 36,364 shares in the last quarter. Hedge funds and other institutional investors own 68.61% of the company’s stock.
Several equities analysts recently commented on CAT shares. Tigress Financial reaffirmed a “buy” rating on shares of Caterpillar in a research note on Monday, September 18th. UBS raised shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $140.00 in a research note on Monday, September 18th. BMO Capital Markets reaffirmed a “buy” rating and set a $130.00 price objective on shares of Caterpillar in a research note on Friday, September 8th. ValuEngine raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Goldman Sachs Group boosted their price objective on shares of Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $136.41.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the business posted $0.85 earnings per share. Caterpillar’s revenue for the quarter was up 24.6% on a year-over-year basis. equities research analysts anticipate that Caterpillar, Inc. will post 6.41 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 annualized dividend and a yield of 2.17%. Caterpillar’s payout ratio is presently 216.67%.
In other news, insider Lange Bob De sold 1,572 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the completion of the sale, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 3,813 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $137.09, for a total transaction of $522,724.17. Following the completion of the sale, the director now owns 6,554 shares of the company’s stock, valued at $898,487.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is currently owned by company insiders.
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Caterpillar Company Profile
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