Caterpillar Inc. (NYSE:CAT) Stake Lessened by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 42.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,556 shares of the industrial products company’s stock after selling 8,444 shares during the period. Eagle Asset Management Inc.’s holdings in Caterpillar were worth $4,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Alpha Cubed Investments LLC lifted its position in shares of Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after purchasing an additional 4,181 shares during the last quarter. First Affirmative Financial Network acquired a new position in shares of Caterpillar during the 3rd quarter worth $204,000. Inspire Advisors LLC increased its stake in shares of Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC increased its stake in shares of Caterpillar by 33.7% during the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after purchasing an additional 4,182 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. UBS Group raised their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Citigroup lowered their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Finally, Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Up 2.0 %

Shares of NYSE:CAT opened at $397.49 on Monday. Caterpillar Inc. has a one year low of $246.01 and a one year high of $418.50. The company has a 50 day moving average of $386.81 and a 200-day moving average of $356.00. 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 stock has a market cap of $191.91 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the prior year, the firm posted $5.52 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a $1.41 dividend. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. Over 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.

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.