Capital International Investors trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 28.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,800 shares of the industrial products company’s stock after selling 158,000 shares during the quarter. Capital International Investors owned approximately 0.07% of Caterpillar worth $49,610,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. First Financial Equity Corporation acquired a new position in Caterpillar in the 1st quarter valued at $411,000. Janus Capital Management LLC raised its stake in Caterpillar by 56.1% in the 1st quarter. Janus Capital Management LLC now owns 1,083,531 shares of the industrial products company’s stock valued at $100,509,000 after purchasing an additional 389,303 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in Caterpillar by 520.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 30,763 shares of the industrial products company’s stock valued at $2,854,000 after purchasing an additional 25,807 shares during the last quarter. FNY Partners Fund LP raised its stake in Caterpillar by 199.1% in the 1st quarter. FNY Partners Fund LP now owns 3,200 shares of the industrial products company’s stock valued at $296,000 after purchasing an additional 2,130 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Caterpillar in the 1st quarter valued at $46,917,000. 68.53% of the stock is owned by institutional investors and hedge funds.
CAT has been the subject of several recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $130.00 price objective on shares of Caterpillar in a research note on Friday, September 8th. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective for the company. in a research note on Monday, September 11th. Jefferies Group reissued a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a research note on Tuesday, August 29th. Credit Suisse Group reissued a “hold” rating and issued a $133.00 price objective on shares of Caterpillar in a research note on Friday, September 22nd. Finally, Goldman Sachs Group increased their price objective on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned 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 $139.93.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.68. The company had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. equities research analysts anticipate that Caterpillar Inc. will post 6.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is currently 216.67%.
In other news, insider Lange Bob De sold 1,572 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $137.58, for a total transaction of $216,275.76. Following the completion of the transaction, the insider now directly owns 11,096 shares in the company, valued at approximately $1,526,587.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $137.09, for a total value of $522,724.17. Following the transaction, 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 90 days, insiders sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by company insiders.
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