Fifth Third Bancorp Grows Stake in Caterpillar Inc. (CAT)

Fifth Third Bancorp grew its position in Caterpillar Inc. (NYSE:CAT) by 14.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 279,499 shares of the industrial products company’s stock after buying an additional 36,009 shares during the quarter. Fifth Third Bancorp’s holdings in Caterpillar were worth $42,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP acquired a new stake in shares of Caterpillar in the third quarter valued at approximately $4,653,000. Lido Advisors LLC increased its holdings in shares of Caterpillar by 14.0% in the third quarter. Lido Advisors LLC now owns 4,381 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 538 shares during the last quarter. Evercore Wealth Management LLC increased its holdings in shares of Caterpillar by 30.5% in the third quarter. Evercore Wealth Management LLC now owns 10,139 shares of the industrial products company’s stock valued at $1,546,000 after purchasing an additional 2,369 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of Caterpillar by 3.5% in the third quarter. King Luther Capital Management Corp now owns 11,733 shares of the industrial products company’s stock valued at $1,789,000 after purchasing an additional 400 shares during the last quarter. Finally, Utah Retirement Systems increased its holdings in shares of Caterpillar by 0.4% in the third quarter. Utah Retirement Systems now owns 107,979 shares of the industrial products company’s stock valued at $16,466,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 66.86% of the company’s stock.

In other news, insider Lange Bob De purchased 1,080 shares of the stock in a transaction dated Friday, October 26th. The stock was acquired at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the transaction, the insider now directly owns 11,310 shares in the company, valued at approximately $1,307,209.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Denise C. Johnson sold 35,051 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the transaction, the insider now owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Several research firms recently commented on CAT. Barclays reaffirmed a “hold” rating on shares of Caterpillar in a report on Wednesday, October 24th. Macquarie set a $105.00 price target on Caterpillar and gave the company a “sell” rating in a report on Wednesday, October 24th. Morgan Stanley set a $169.00 price target on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 24th. OTR Global cut Caterpillar to a “positive” rating in a report on Friday, September 21st. Finally, DZ Bank raised Caterpillar to a “hold” rating and cut their price target for the company from $127.00 to $119.00 in a report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $158.90.

CAT stock opened at $123.55 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. The firm has a market cap of $75.75 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.61. Caterpillar Inc. has a 52-week low of $112.06 and a 52-week high of $173.24.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. The company had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 earnings per share. As a group, equities research analysts anticipate that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd were given a dividend of $0.86 per share. The ex-dividend date was Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.78%. Caterpillar’s dividend payout ratio is currently 50.00%.

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Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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