Zurcher Kantonalbank Zurich Cantonalbank Has $101.58 Million Stake in Caterpillar Inc. (NYSE:CAT)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Caterpillar Inc. (NYSE:CAT) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 259,709 shares of the industrial products company’s stock after selling 7,595 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Caterpillar worth $101,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the second quarter valued at about $36,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the third quarter valued at about $36,000. Finally, POM Investment Strategies LLC raised its stake in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.0 %

NYSE:CAT opened at $403.65 on Thursday. Caterpillar Inc. has a 52 week low of $246.01 and a 52 week high of $418.50. The firm’s fifty day moving average is $390.02 and its 200-day moving average is $357.08. The firm has a market cap of $194.88 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates 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 business posted $5.52 earnings per share. Equities analysts expect that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.40%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,774 shares of company stock worth $8,233,034. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CAT shares. Truist Financial lifted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird upped their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. UBS Group upped their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Finally, Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $365.33.

Caterpillar Company 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.