Caterpillar Inc. $CAT Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 38.1% in the second quarter, Holdings Channel reports. The fund owned 1,806 shares of the industrial products company’s stock after selling 1,110 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Caterpillar were worth $696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Aire Advisors LLC raised its holdings in Caterpillar by 0.3% in the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after acquiring an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC raised its holdings in Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 25 shares during the last quarter. GSB Wealth Management LLC raised its holdings in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after acquiring an additional 26 shares during the last quarter. Verum Partners LLC raised its holdings in Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 26 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors boosted its position in shares of Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $527.12 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a market capitalization of $246.95 billion, a P/E ratio of 26.81, a PEG ratio of 2.98 and a beta of 1.46. The company has a 50 day moving average price of $466.75 and a 200 day moving average price of $401.50. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $544.99.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $5.99 EPS. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS 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 given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,985 shares of company stock valued at $25,559,300. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of several recent research reports. Truist Financial boosted their price target on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. DA Davidson raised their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. UBS Group raised their price target on shares of Caterpillar from $450.00 to $506.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Finally, Jefferies Financial Group raised their price target on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $518.19.

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.