Caterpillar Inc. (NYSE:CAT) Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 59.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,578 shares of the industrial products company’s stock after acquiring an additional 65,134 shares during the quarter. Caterpillar makes up 0.8% of Intech Investment Management LLC’s investment portfolio, making the stock its 16th largest holding. Intech Investment Management LLC’s holdings in Caterpillar were worth $68,672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in shares of Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC grew its stake 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 valued at $45,591,000 after buying an additional 6,212 shares in the last quarter. First Affirmative Financial Network bought a new stake in shares of Caterpillar in the 3rd quarter valued at approximately $204,000. Inspire Advisors LLC grew its stake in shares of Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares in the last quarter. Finally, Jackson Square Capital LLC grew its stake in shares of Caterpillar by 33.7% in 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 buying an additional 4,182 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT stock opened at $381.44 on Thursday. 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 12 month low of $241.81 and a 12 month high of $418.50. The firm has a market cap of $184.16 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.89 and a beta of 1.10. The stock has a 50-day moving average price of $383.83 and a 200 day moving average price of $355.03.

Caterpillar (NYSE:CAT) last issued its 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the business posted $5.52 EPS. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

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 1.48%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CAT. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group increased their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $365.33.

Insider Buying and Selling at Caterpillar

In other Caterpillar 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 transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 20,774 shares of company stock worth $8,233,034. Corporate insiders own 0.29% 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.