Caterpillar Inc. (NYSE:CAT) Shares Sold by Busey Bank

Busey Bank lessened its stake in Caterpillar Inc. (NYSE:CAT) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,006 shares of the industrial products company’s stock after selling 957 shares during the quarter. Caterpillar comprises approximately 1.1% of Busey Bank’s holdings, making the stock its 20th biggest holding. Busey Bank’s holdings in Caterpillar were worth $34,030,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Caterpillar by 39,534.0% during the third 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 in the last quarter. Canada Pension Plan Investment Board boosted its position in Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after purchasing an additional 307,479 shares during the period. Altshuler Shaham Ltd increased its holdings in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares in the last quarter. Swedbank AB purchased a new position in Caterpillar in the first quarter valued at about $97,042,000. Finally, Capital International Investors lifted its stake in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after purchasing an additional 244,253 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CAT. UBS Group raised their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup lifted their price target on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Raymond James began coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar Price Performance

Shares of NYSE CAT opened at $386.81 on Friday. The business has a 50 day simple moving average of $367.72 and a 200-day simple moving average of $350.86. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60. The company has a market capitalization of $189.17 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the company earned $5.55 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. Caterpillar’s payout ratio is currently 25.46%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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.