Fmr LLC Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Fmr LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 9.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,853,946 shares of the industrial products company’s stock after selling 482,795 shares during the quarter. Fmr LLC owned about 1.01% of Caterpillar worth $1,898,475,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its stake in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the period. Swedbank AB purchased a new position in Caterpillar in the first quarter worth about $97,042,000. Fisher Asset Management LLC grew its stake in shares of Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after purchasing an additional 205,012 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Caterpillar by 104.6% during the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after purchasing an additional 200,134 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.5 %

NYSE CAT opened at $407.82 on Wednesday. Caterpillar Inc. has a 12 month low of $246.01 and a 12 month high of $418.50. The stock’s 50 day moving average is $389.05 and its 200 day moving average is $356.75. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market cap of $196.90 billion, a PE ratio of 18.91, a P/E/G ratio of 1.96 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 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 the consensus estimate of $16.37 billion. During the same period in the previous year, the company posted $5.52 earnings per share. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.38%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Activity at Caterpillar

In other Caterpillar 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,774 shares of company stock valued at $8,233,034. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $321.00 to $365.00 in a research note on Wednesday, November 13th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.