Savvy Advisors Inc. Grows Position in Caterpillar Inc. (NYSE:CAT)

Savvy Advisors Inc. raised its stake in Caterpillar Inc. (NYSE:CAT) by 104.9% during the third quarter, HoldingsChannel.com reports. The fund owned 4,104 shares of the industrial products company’s stock after purchasing an additional 2,101 shares during the quarter. Savvy Advisors Inc.’s holdings in Caterpillar were worth $1,605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. International Assets Investment Management LLC increased its position in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of 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 valued at $149,385,000 after buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of 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 acquiring an additional 266,969 shares during the last quarter. Swedbank AB purchased a new position in Caterpillar in the first quarter worth about $97,042,000. Finally, Capital International Investors raised its position in Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAT. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $362.40.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 of the company’s stock, valued at $29,171,646.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 23,749 shares of company stock valued at $9,251,912 over the last quarter. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Up 0.2 %

CAT opened at $397.26 on Tuesday. The company has a fifty day moving average of $377.62 and a two-hundred day moving average of $353.01. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a fifty-two week low of $238.88 and a fifty-two week high of $418.50. The stock has a market capitalization of $191.80 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.94 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.52 EPS. On average, research analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

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.