Dai ichi Life Insurance Company Ltd Has $9.01 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Dai ichi Life Insurance Company Ltd lifted its stake in Caterpillar Inc. (NYSE:CAT) by 12.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,040 shares of the industrial products company’s stock after acquiring an additional 2,469 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Caterpillar were worth $9,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Qsemble Capital Management LP bought a new position in shares of Caterpillar during the 3rd quarter worth about $1,123,000. Bank of Montreal Can raised its holdings in Caterpillar by 2.8% in the 3rd quarter. Bank of Montreal Can now owns 900,971 shares of the industrial products company’s stock valued at $352,352,000 after acquiring an additional 24,577 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Caterpillar by 1.0% in the 3rd quarter. Private Trust Co. NA now owns 8,031 shares of the industrial products company’s stock worth $3,141,000 after acquiring an additional 76 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in shares of Caterpillar by 26.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 8,216 shares of the industrial products company’s stock worth $3,213,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Diversified LLC raised its stake in shares of Caterpillar by 2.9% in the third quarter. Diversified LLC now owns 2,181 shares of the industrial products company’s stock valued at $853,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. 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. Company insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $405.65 on Tuesday. The business’s 50-day simple moving average is $387.97 and its 200 day simple moving average is $356.38. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market cap of $195.85 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.96 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $246.01 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the company posted $5.52 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced 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 1.39%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group boosted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Morgan Stanley cut 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 report on Monday, October 14th. Citigroup dropped their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, 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. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.