Becker Capital Management Inc. Sells 311 Shares of Caterpillar Inc. (NYSE:CAT)

Becker Capital Management Inc. reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,002 shares of the industrial products company’s stock after selling 311 shares during the period. Becker Capital Management Inc.’s holdings in Caterpillar were worth $9,791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CKW Financial Group bought a new position in shares of Caterpillar during the second quarter valued at about $32,000. AlphaMark Advisors LLC increased its holdings in Caterpillar by 87.0% during the second quarter. AlphaMark Advisors LLC now owns 187 shares of the industrial products company’s stock worth $41,000 after buying an additional 87 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Caterpillar during the second quarter worth about $44,000. Lion Street Advisors LLC purchased a new stake in Caterpillar during the second quarter worth about $44,000. Finally, Clean Yield Group purchased a new stake in Caterpillar during the second quarter worth about $46,000. 67.66% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Caterpillar from $215.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, October 12th. UBS Group upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $232.00 to $235.00 in a research note on Friday, October 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Caterpillar from $258.00 to $241.00 and set a “buy” rating for the company in a research note on Monday, August 2nd. Cowen started coverage on shares of Caterpillar in a research note on Thursday, October 14th. They issued an “outperform” rating and a $241.00 target price for the company. Finally, Tigress Financial reiterated a “buy” rating and issued a $270.00 target price on shares of Caterpillar in a research note on Friday, August 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Buy” and a consensus target price of $234.05.

Caterpillar stock traded up $1.74 during mid-day trading on Thursday, hitting $207.07. 3,879,654 shares of the company traded hands, compared to its average volume of 3,412,760. Caterpillar Inc. has a one year low of $172.28 and a one year high of $246.69. The stock has a market cap of $112.01 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.09 and a current ratio of 1.61. The stock has a fifty day moving average price of $200.06 and a 200-day moving average price of $212.35.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, October 28th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.40. Caterpillar had a net margin of 10.64% and a return on equity of 34.41%. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same period in the previous year, the business posted $1.34 earnings per share. Caterpillar’s revenue for the quarter was up 25.5% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 10.35 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, October 25th were given a dividend of $1.11 per share. The ex-dividend date was Friday, October 22nd. This represents a $4.44 annualized dividend and a yield of 2.14%. Caterpillar’s payout ratio is presently 47.49%.

In other news, insider Joseph E. Creed sold 5,038 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $204.09, for a total value of $1,028,205.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Caterpillar Company Profile

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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