Mitsubishi UFJ Trust & Banking Corp Has $148.71 Million Stock Position in Caterpillar Inc. $CAT

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,063 shares of the industrial products company’s stock after selling 10,435 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Caterpillar were worth $148,709,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CAT. Trivium Point Advisory LLC lifted its position in shares of Caterpillar by 132.9% during the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after purchasing an additional 7,125 shares during the period. Palmer Knight Co purchased a new stake in Caterpillar in the 2nd quarter worth about $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Caterpillar by 11.2% in 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 period. Finally, Ransom Advisory Ltd purchased a new stake in shares of Caterpillar during the first quarter worth $427,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on CAT shares. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Bank of America increased their target price on shares of Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. Royal Bank Of Canada started coverage on Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 target price on the stock. Finally, Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $596.59.

Insider Buying and Selling at Caterpillar

In related news, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the sale, the chief accounting officer owned 1,323 shares in the company, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the sale, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 69,662 shares of company stock worth $33,575,140. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of CAT opened at $567.82 on Wednesday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The company has a market capitalization of $265.73 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The firm has a 50 day moving average of $497.84 and a 200 day moving average of $423.30. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same period last year, the business posted $5.17 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm 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 of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar’s payout ratio is 31.01%.

Caterpillar 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.