Caterpillar Inc. $CAT Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its stake in Caterpillar Inc. (NYSE:CAT) by 12.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,603 shares of the industrial products company’s stock after selling 46,225 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Caterpillar were worth $126,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC raised its position in Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after acquiring an additional 264,054 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after acquiring an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. raised its position in Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after acquiring an additional 150,533 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $531.80 on Tuesday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The firm has a 50 day moving average price of $455.85 and a 200 day moving average price of $393.23. The company has a market cap of $249.13 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.00 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 earnings per share. Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Insider Activity at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the sale, the chairman directly owned 448,173 shares in the company, valued at $226,457,335.17. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. Bank of America boosted their price objective on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Oppenheimer boosted their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, Barclays boosted their price objective on shares of Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus price target of $515.40.

About Caterpillar

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.