Meyer Handelman Co. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 145,366 shares of the industrial products company’s stock after selling 6,700 shares during the period. Meyer Handelman Co.’s holdings in Caterpillar were worth $22,167,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC boosted its holdings in Caterpillar by 5.4% in the 2nd quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock worth $874,069,000 after buying an additional 327,470 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Caterpillar by 7.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,239,504 shares of the industrial products company’s stock worth $303,834,000 after buying an additional 145,707 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Caterpillar by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock worth $291,325,000 after buying an additional 151,960 shares during the last quarter. Swiss National Bank boosted its holdings in Caterpillar by 3.5% in the 2nd quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock worth $268,086,000 after buying an additional 67,200 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Caterpillar by 23.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after buying an additional 374,038 shares during the last quarter. Institutional investors own 66.56% of the company’s stock.
Several equities research analysts recently issued reports on CAT shares. Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a report on Friday, October 19th. Citigroup upgraded Caterpillar to an “outperform” rating in a report on Friday, September 21st. Deutsche Bank set a $177.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 5th. ValuEngine cut Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, Morgan Stanley set a $169.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, October 24th. 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 issued a strong buy rating to the company’s stock. Caterpillar currently has a consensus rating of “Buy” and a consensus target price of $158.55.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The business had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. During the same period last year, the company posted $1.95 EPS. The business’s revenue was up 18.4% on a year-over-year basis. Sell-side analysts forecast that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s payout ratio is presently 50.00%.
In other news, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the sale, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lange Bob De purchased 1,080 shares of Caterpillar stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the transaction, the insider now owns 11,310 shares in the company, valued at approximately $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.
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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