Caterpillar Inc. $CAT Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,623 shares of the industrial products company’s stock after selling 54 shares during the quarter. Convergence Investment Partners LLC’s holdings in Caterpillar were worth $2,183,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC grew its stake in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Caterpillar by 6.7% in the 1st 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 valued at $1,386,626,000 after acquiring an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Caterpillar by 0.5% during the 1st 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 purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after purchasing an additional 268,300 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after purchasing an additional 150,533 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research note on Tuesday, October 14th. Robert W. Baird lifted their target price on shares of Caterpillar from $540.00 to $612.00 in a research note on Monday, October 20th. Citigroup lifted their target price on shares of Caterpillar from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Finally, Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $518.19.

Caterpillar Stock Up 0.3%

Shares of CAT opened at $522.13 on Monday. The firm has a market cap of $244.60 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. The company’s 50-day moving average price is $464.46 and its 200 day moving average price is $399.92. 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 (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $5.99 earnings per share. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the sale, the chairman directly owned 448,173 shares in the company, valued at approximately $226,457,335.17. The trade was a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar 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 directly 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. In the last ninety days, insiders have sold 55,985 shares of company stock worth $25,559,300. Company insiders own 0.33% of the company’s stock.

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.