The Manufacturers Life Insurance Company Has $165.62 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

The Manufacturers Life Insurance Company reduced its position in shares of Caterpillar Inc. (NYSE:CATFree Report) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,457 shares of the industrial products company’s stock after selling 40,513 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Caterpillar worth $165,623,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after purchasing an additional 205,012 shares in the last quarter. Legal & General Group Plc increased 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 worth $1,286,582,000 after buying an additional 75,973 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Caterpillar by 0.3% during 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Caterpillar by 5.7% during 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 in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of 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 worth $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,774 shares of company stock valued at $8,233,034 in the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CAT has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup decreased their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $365.33.

Check Out Our Latest Report on CAT

Caterpillar Price Performance

CAT stock opened at $407.82 on Wednesday. The stock has a market capitalization of $196.90 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The company’s 50-day moving average is $389.05 and its 200-day moving average is $356.75. 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 Inc. has a 1 year low of $246.01 and a 1 year high of $418.50.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings data 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 company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $5.52 EPS. Equities research analysts expect that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.38%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

About Caterpillar

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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