Glenmede Trust Co. NA Has $48.69 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Glenmede Trust Co. NA reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,477 shares of the industrial products company’s stock after selling 140 shares during the quarter. Glenmede Trust Co. NA’s holdings in Caterpillar were worth $48,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. New Covenant Trust Company N.A. bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $130,000. Kozak & Associates Inc. increased its holdings in Caterpillar by 14.0% in the 1st quarter. Kozak & Associates Inc. now owns 1,661 shares of the industrial products company’s stock valued at $583,000 after buying an additional 204 shares during the period. Strategic Wealth Partners Ltd. acquired a new position in shares of Caterpillar in the 1st quarter valued at $405,000. Virtu Financial LLC acquired a new stake in shares of Caterpillar during the 1st quarter valued at about $604,000. Finally, Independent Wealth Network Inc. increased its stake in Caterpillar by 0.6% in the first quarter. Independent Wealth Network Inc. now owns 26,658 shares of the industrial products company’s stock valued at $9,768,000 after acquiring an additional 168 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.5 %

Shares of CAT stock opened at $407.82 on Wednesday. The firm’s fifty day moving average price is $389.05 and its two-hundred day moving average price is $356.75. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 1 year low of $246.01 and a 1 year high of $418.50. The firm has a market capitalization of $196.90 billion, a P/E ratio of 18.91, a PEG ratio of 2.00 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.52 EPS. On average, equities analysts predict that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insider Activity

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 36.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,774 shares of company stock valued at $8,233,034 in the last quarter. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CAT shares. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. UBS Group increased their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $365.33.

Caterpillar Profile

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.