Caterpillar Inc. (NYSE:CAT) Shares Sold by Centiva Capital LP

Centiva Capital LP lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 49.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,378 shares of the industrial products company’s stock after selling 14,806 shares during the period. Centiva Capital LP’s holdings in Caterpillar were worth $6,015,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CAT. Fisher Asset Management LLC raised its holdings in 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 worth $3,501,554,000 after buying an additional 205,012 shares during the period. Legal & General Group Plc raised its holdings in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after buying an additional 8,088 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after buying an additional 165,358 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Activity at Caterpillar

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 17,589 shares of company stock worth $7,113,953. 0.29% of the stock is owned by insiders.

Caterpillar Price Performance

NYSE CAT opened at $406.51 on Monday. Caterpillar Inc. has a fifty-two week low of $252.42 and a fifty-two week high of $418.50. The stock’s 50-day moving average is $391.37 and its two-hundred day moving average is $357.73. The firm has a market cap of $196.26 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company 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 firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.52 earnings per share. On average, analysts anticipate that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Analysts Set New Price Targets

CAT has been the subject of several research analyst reports. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Citigroup reduced their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Bank of America boosted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus target price of $365.33.

Caterpillar Company Profile

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.