Caterpillar Inc. (NYSE:CAT) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,266 shares of the industrial products company’s stock after buying an additional 171 shares during the period. Sumitomo Life Insurance Co.’s holdings in Caterpillar were worth $2,842,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CAT. Richardson Financial Services Inc. purchased a new position in shares of Caterpillar during the 4th quarter worth $27,000. Thompson Investment Management Inc. acquired a new position in Caterpillar in the first quarter valued at $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the 2nd quarter worth about $28,000. Finally, Fairman Group LLC purchased a new stake in Caterpillar in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 1.1 %

CAT traded up $4.24 during trading hours on Wednesday, reaching $392.23. 377,668 shares of the stock traded hands, compared to its average volume of 2,641,310. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The company has a market cap of $191.82 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm’s fifty day simple moving average is $360.22 and its two-hundred day simple moving average is $349.61.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period last year, the firm earned $5.55 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % 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, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was purchased 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 directly owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAT. Citigroup raised their target price on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America increased their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI cut their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three equities research 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 company presently has an average rating of “Hold” and a consensus target price of $355.50.

Caterpillar Company 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.