World Equity Group Inc. Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

World Equity Group Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,115 shares of the industrial products company’s stock after selling 122 shares during the quarter. World Equity Group Inc.’s holdings in Caterpillar were worth $1,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TKG Advisors LLC raised its position in Caterpillar by 78.2% in the 3rd quarter. TKG Advisors LLC now owns 6,304 shares of the industrial products company’s stock worth $2,466,000 after purchasing an additional 2,767 shares during the period. Garrison Asset Management LLC bought a new stake in shares of Caterpillar during the 3rd quarter worth approximately $216,000. Palisades Hudson Asset Management L.P. bought a new position in Caterpillar in the 3rd quarter valued at $233,000. QRG Capital Management Inc. increased its stake in Caterpillar by 6.8% in the 3rd quarter. QRG Capital Management Inc. now owns 120,940 shares of the industrial products company’s stock worth $47,302,000 after buying an additional 7,657 shares during the period. Finally, National Pension Service boosted its position in Caterpillar by 13.1% in the 3rd quarter. National Pension Service now owns 1,022,097 shares of the industrial products company’s stock valued at $399,763,000 after buying an additional 118,070 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were bought 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 in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT traded up $1.00 during trading on Monday, hitting $380.63. The company had a trading volume of 223,867 shares, compared to its average volume of 2,612,972. Caterpillar Inc. has a fifty-two week low of $233.57 and a fifty-two week high of $403.60. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a fifty day simple moving average of $372.40 and a two-hundred day simple moving average of $351.32. The firm has a market capitalization of $184.57 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $5.52 EPS. On average, research analysts expect that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Announces Dividend

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. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

Several research firms have commented on CAT. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $357.56.

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.