Caterpillar Inc. (NYSE:CAT) Shares Acquired by CX Institutional

CX Institutional boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 872.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,788 shares of the industrial products company’s stock after purchasing an additional 24,032 shares during the quarter. CX Institutional’s holdings in Caterpillar were worth $10,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in Caterpillar in the fourth quarter valued at approximately $77,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the 4th quarter valued at $27,000. Greenwood Capital Associates LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth $400,000. Orrstown Financial Services Inc. purchased a new position in shares of Caterpillar in the 1st quarter worth $498,000. Finally, Cullen Investment Group LTD. boosted its holdings in Caterpillar by 3.8% in the first quarter. Cullen Investment Group LTD. now owns 8,953 shares of the industrial products company’s stock valued at $3,266,000 after acquiring an additional 326 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Citigroup boosted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $355.50.

Caterpillar Stock Performance

Shares of CAT opened at $393.95 on Tuesday. The firm has a market cap of $192.66 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.85 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $358.99 and its two-hundred day moving average is $349.46. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.55 EPS. Analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is currently 25.46%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.