MetLife Investment Management LLC cut its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,973 shares of the industrial products company’s stock after selling 5,432 shares during the quarter. MetLife Investment Management LLC’s holdings in Caterpillar were worth $36,163,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Northwest Capital Management Inc bought a new stake in Caterpillar in the 2nd quarter valued at $25,000. West Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at $25,000. Atlas Capital Advisors LLC raised its holdings in Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 95 shares in the last quarter. Finally, MUFG Securities EMEA plc raised its holdings in Caterpillar by 110.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 135 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. StockNews.com raised Caterpillar from a “buy” rating to a “strong-buy” rating in a report on Monday, October 30th. HSBC began coverage on Caterpillar in a research report on Monday. They set a “hold” rating and a $250.00 price objective on the stock. The Goldman Sachs Group reduced their price target on Caterpillar from $315.00 to $274.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Barclays upped their price target on Caterpillar from $225.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Finally, Wells Fargo & Company upped their target price on Caterpillar from $240.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average target price of $266.80.
Insider Activity at Caterpillar
In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total transaction of $815,517.00. Following the completion of the transaction, the insider now directly owns 16,182 shares of the company’s stock, valued at $4,514,778. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.
Caterpillar Stock Down 1.3 %
Shares of Caterpillar stock traded down $3.32 on Monday, hitting $249.75. The company had a trading volume of 947,671 shares, compared to its average volume of 3,058,290. The stock has a market capitalization of $127.14 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.02 and a beta of 1.09. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $293.88. The stock has a 50 day moving average of $259.40 and a 200-day moving average of $252.78. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.92 and a current ratio of 1.45.
Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $5.52 EPS for the quarter, topping the consensus estimate of $4.75 by $0.77. The firm had revenue of $16.81 billion during the quarter, compared to the consensus estimate of $16.57 billion. Caterpillar had a return on equity of 56.29% and a net margin of 13.69%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.95 earnings per share. As a group, sell-side analysts forecast that Caterpillar Inc. will post 20.48 earnings per share for the current year.
Caterpillar Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 23rd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, October 20th. Caterpillar’s payout ratio is 29.46%.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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