Tocqueville Asset Management L.P. cut its stake in shares of Caterpillar, Inc. (NYSE:CAT) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 351,561 shares of the industrial products company’s stock after selling 18,429 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.06% of Caterpillar worth $43,843,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. ARP Americas LLC bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $237,000. Canada Pension Plan Investment Board grew its stake in shares of Caterpillar by 1.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 584,819 shares of the industrial products company’s stock valued at $72,933,000 after acquiring an additional 8,300 shares during the period. New York State Teachers Retirement System grew its stake in shares of Caterpillar by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 954,367 shares of the industrial products company’s stock valued at $119,019,000 after acquiring an additional 4,193 shares during the period. Ramsay Stattman Vela & Price Inc. bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $237,000. Finally, Wright Investors Service Inc. bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $257,000. Institutional investors own 69.19% of the company’s stock.
In other news, CFO Bradley M. Halverson sold 17,210 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the completion of the transaction, the chief financial officer now directly owns 7,814 shares in the company, valued at approximately $1,073,096.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 1,572 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total value of $216,275.76. Following the transaction, the insider now owns 11,096 shares of the company’s stock, valued at $1,526,587.68. The disclosure for this sale can be found here. Insiders have sold a total of 47,142 shares of company stock valued at $6,433,232 over the last quarter. Corporate insiders own 0.14% of the company’s stock.
CAT has been the subject of a number of recent research reports. BidaskClub upgraded Caterpillar from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Seaport Global Securities initiated coverage on Caterpillar in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 price target for the company. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target for the company. in a research note on Tuesday, August 22nd. Credit Suisse Group restated an “outperform” rating and issued a $146.00 price target (up from $133.00) on shares of Caterpillar in a research note on Wednesday, October 18th. Finally, BMO Capital Markets upped their price target on Caterpillar from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. Caterpillar has a consensus rating of “Hold” and an average target price of $133.92.
Caterpillar, Inc. (NYSE:CAT) opened at $137.39 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $81,737.98, a P/E ratio of 24.75, a PEG ratio of 2.08 and a beta of 1.29. Caterpillar, Inc. has a 52-week low of $90.34 and a 52-week high of $140.44.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. sell-side analysts predict that Caterpillar, Inc. will post 6.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, October 23rd were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.27%. Caterpillar’s dividend payout ratio is currently 216.67%.
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Caterpillar Company Profile
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