Caterpillar Inc. $CAT Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 160,371 shares of the industrial products company’s stock after selling 10,814 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Caterpillar were worth $62,258,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CAT. Trivium Point Advisory LLC raised its position in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Caterpillar by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after purchasing an additional 7,125 shares during the last quarter. Palmer Knight Co bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Caterpillar by 11.2% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new stake in Caterpillar during the first quarter worth approximately $427,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAT. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada assumed coverage on Caterpillar in a research report on Wednesday. They issued a “sector perform” rating and a $560.00 price target for the company. Citigroup lifted their price target on Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.19.

Insider Buying and Selling at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction on Friday, October 10th. The stock was 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 owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock valued at $25,559,300 in the last quarter. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.3%

Shares of NYSE CAT opened at $522.13 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The business has a 50-day moving average price of $464.46 and a two-hundred day moving average price of $399.24. The firm has a market capitalization of $244.61 billion, a PE ratio of 26.56, a PEG ratio of 2.98 and a beta of 1.46.

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

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio is presently 30.72%.

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.