Culbertson A N & Co. Inc. Sells 58 Shares of Caterpillar Inc. (NYSE:CAT)

Culbertson A N & Co. Inc. trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,394 shares of the industrial products company’s stock after selling 58 shares during the period. Caterpillar makes up about 2.6% of Culbertson A N & Co. Inc.’s holdings, making the stock its 5th biggest holding. Culbertson A N & Co. Inc.’s holdings in Caterpillar were worth $16,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Canada Pension Plan Investment Board lifted its stake in shares of Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after purchasing an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd grew its position in Caterpillar by 3,319.7% in the second 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 in the last quarter. Swedbank AB acquired a new position in shares of Caterpillar during the first quarter worth $97,042,000. Capital International Investors boosted its stake in shares of Caterpillar by 99.9% in 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. Finally, National Bank of Canada FI increased its stake in Caterpillar by 104.6% during the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after buying an additional 200,134 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. Citigroup raised their target price on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group upped their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Bank of America raised their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Evercore ISI reduced their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $355.50.

Insider Buying and Selling

In other Caterpillar 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 transaction 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the business’s 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 acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.5 %

CAT stock opened at $393.66 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm’s 50-day simple moving average is $361.58 and its 200 day simple moving average is $349.92. The stock has a market cap of $192.52 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the previous year, the firm posted $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

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.