Caterpillar Inc. (NYSE:CAT) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 11.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,612 shares of the industrial products company’s stock after selling 2,856 shares during the quarter. ARK Investment Management LLC’s holdings in Caterpillar were worth $8,453,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CAT. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar in the 2nd quarter worth $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar during the 2nd quarter worth about $36,000. POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. Finally, TruNorth Capital Management LLC raised its stake in shares of Caterpillar by 215.4% in the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Down 2.1 %

Shares of NYSE:CAT opened at $408.21 on Friday. The firm has a market capitalization of $197.94 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The business’s 50 day moving average price is $376.06 and its 200-day moving average price is $352.50. 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 $233.82 and a 1 year high of $418.50.

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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the business earned $5.52 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar Inc. will post 21.77 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. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.38%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Transactions at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,092 shares of company stock valued at $4,059,378 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAT. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup decreased their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $358.19.

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.