Sumitomo Mitsui DS Asset Management Company Ltd Sells 1,980 Shares of Caterpillar Inc. (NYSE:CAT)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% in the 4th quarter, HoldingsChannel reports. The fund owned 74,767 shares of the industrial products company’s stock after selling 1,980 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Caterpillar were worth $11,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $29,000. Private Ocean LLC raised its stake in shares of Caterpillar by 62.9% during the 3rd quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Savior LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $36,000. Finally, G&S Capital LLC bought a new position in shares of Caterpillar during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 64.96% of the company’s stock.

In related news, insider Denise C. Johnson sold 14,777 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $140.00, for a total transaction of $2,068,780.00. Following the sale, the insider now directly owns 26,464 shares of the company’s stock, valued at $3,704,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Denise C. Johnson sold 68,993 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $146.37, for a total transaction of $10,098,505.41. Insiders have sold 90,122 shares of company stock worth $13,083,041 over the last three months. 0.37% of the stock is currently owned by insiders.

Several research analysts recently commented on the stock. Goldman Sachs Group boosted their price objective on shares of Caterpillar from $130.00 to $156.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada restated a “hold” rating and set a $152.00 price target on shares of Caterpillar in a research note on Monday. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $155.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Citigroup upped their price target on shares of Caterpillar from $145.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Cleveland Research restated a “hold” rating on shares of Caterpillar in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and an average target price of $148.24.

NYSE CAT traded down $4.06 during mid-day trading on Friday, reaching $139.44. 179,711 shares of the stock were exchanged, compared to its average volume of 2,336,127. The business’s 50 day moving average is $146.42 and its 200-day moving average is $134.91. Caterpillar Inc. has a 1 year low of $111.75 and a 1 year high of $150.55. The company has a market capitalization of $78.83 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.54 and a beta of 1.52. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.44.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.82 by ($0.16). Caterpillar had a return on equity of 42.51% and a net margin of 10.99%. The firm had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $13.49 billion. During the same period last year, the company posted $2.86 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 10.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, January 17th. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

Read More: Certificate of Deposit (CD) For Risk Adverse Investors?

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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