Caterpillar Inc. (NYSE:CAT) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in Caterpillar Inc. (NYSE:CAT) by 4.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 72,743 shares of the industrial products company’s stock after acquiring an additional 3,051 shares during the period. CIBC Asset Management Inc’s holdings in Caterpillar were worth $28,451,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CAT. Intellectus Partners LLC lifted its holdings in Caterpillar by 3.0% in the 3rd quarter. Intellectus Partners LLC now owns 5,720 shares of the industrial products company’s stock valued at $2,237,000 after acquiring an additional 166 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Caterpillar by 2.5% during the third quarter. OneDigital Investment Advisors LLC now owns 19,215 shares of the industrial products company’s stock valued at $7,515,000 after purchasing an additional 464 shares during the last quarter. Sargent Investment Group LLC boosted its holdings in Caterpillar by 13.1% during the third quarter. Sargent Investment Group LLC now owns 6,029 shares of the industrial products company’s stock worth $2,358,000 after buying an additional 700 shares in the last quarter. Omnia Family Wealth LLC acquired a new position in Caterpillar in the third quarter worth approximately $259,000. Finally, Lifeworks Advisors LLC increased its holdings in shares of Caterpillar by 3.3% in the third quarter. Lifeworks Advisors LLC now owns 8,260 shares of the industrial products company’s stock valued at $3,231,000 after buying an additional 262 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $384.08 on Friday. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The business’s 50-day moving average price is $380.76 and its two-hundred day moving average price is $353.83. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The company has a market capitalization of $185.43 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.52 EPS. Analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Insider Buying and Selling

In related news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,749 shares of company stock worth $9,251,912. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. UBS Group raised their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Robert W. Baird lifted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $321.00 to $365.00 in a research note on Wednesday. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $365.33.

About Caterpillar

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.