Geode Capital Management LLC Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Geode Capital Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,213,455 shares of the industrial products company’s stock after acquiring an additional 67,148 shares during the period. Geode Capital Management LLC’s holdings in Caterpillar were worth $3,987,206,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC lifted its holdings 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 worth $45,591,000 after acquiring an additional 6,212 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after buying an additional 4,181 shares during the period. First Affirmative Financial Network bought a new position in shares of Caterpillar during the third quarter valued at approximately $204,000. Inspire Advisors LLC raised its holdings in shares of Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after buying an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC boosted its holdings in Caterpillar by 33.7% during the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after acquiring an additional 4,182 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Up 1.1 %

Shares of Caterpillar stock opened at $399.34 on Tuesday. The firm’s 50 day moving average price is $393.01 and its 200-day moving average price is $359.52. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52-week low of $259.12 and a 52-week high of $418.50. The company has a market cap of $192.80 billion, a P/E ratio of 18.51, a PEG ratio of 1.95 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 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the company posted $5.52 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $398.57 per share, with a total value of $39,857.00. Following the acquisition, the director now directly owns 2,953 shares in the company, valued at $1,176,977.21. This represents a 3.51 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm’s 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 sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 over the last ninety days. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAT. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Truist Financial raised their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup increased their price target on Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $374.69.

Caterpillar 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.