Asahi Life Asset Management CO. LTD. reduced its position in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,749 shares of the industrial products company's stock after selling 1,933 shares during the period. Caterpillar makes up approximately 2.3% of Asahi Life Asset Management CO. LTD.'s investment portfolio, making the stock its 14th biggest position. Asahi Life Asset Management CO. LTD.'s holdings in Caterpillar were worth $7,506,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its position in Caterpillar by 1.2% during the third quarter. Gilbert & Cook Inc. now owns 4,118 shares of the industrial products company's stock valued at $884,000 after purchasing an additional 49 shares in the last quarter. Marks Group Wealth Management Inc raised its position in Caterpillar by 2.6% during the second quarter. Marks Group Wealth Management Inc now owns 1,995 shares of the industrial products company's stock valued at $357,000 after purchasing an additional 51 shares in the last quarter. Mather Group LLC. raised its position in Caterpillar by 2.0% during the second quarter. Mather Group LLC. now owns 2,643 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 51 shares in the last quarter. Stockman Wealth Management Inc. raised its position in Caterpillar by 4.5% during the second quarter. Stockman Wealth Management Inc. now owns 1,250 shares of the industrial products company's stock valued at $223,000 after purchasing an additional 54 shares in the last quarter. Finally, Somerville Kurt F raised its position in Caterpillar by 1.8% during the first quarter. Somerville Kurt F now owns 3,165 shares of the industrial products company's stock valued at $705,000 after purchasing an additional 55 shares in the last quarter. 68.02% of the stock is currently owned by institutional investors and hedge funds.
Get Caterpillar alerts:Caterpillar Trading Down 0.6 %
CAT traded down $1.52 during trading on Wednesday, reaching $256.09. 417,052 shares of the stock traded hands, compared to its average volume of 3,060,253. The stock's 50-day moving average is $239.91 and its 200 day moving average is $207.21. Caterpillar Inc. has a 12 month low of $160.60 and a 12 month high of $260.50. The stock has a market capitalization of $133.27 billion, a PE ratio of 18.52, a P/E/G ratio of 1.38 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 1.63.
Caterpillar (NYSE:CAT – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The industrial products company reported $3.95 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.76. Caterpillar had a net margin of 13.02% and a return on equity of 41.76%. The firm had revenue of $14.99 billion for the quarter, compared to analyst estimates of $14.34 billion. Equities analysts anticipate that Caterpillar Inc. will post 13.85 earnings per share for the current year.Caterpillar Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Friday, January 20th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $4.80 annualized dividend and a dividend yield of 1.87%. Caterpillar's dividend payout ratio is currently 34.86%.
Insider Activity
In other news, General Counsel Suzette M. Long sold 1,884 shares of the company's stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $237.28, for a total transaction of $447,035.52. Following the transaction, the general counsel now owns 8,665 shares in the company, valued at $2,056,031.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Lange Bob De sold 11,000 shares of the company's stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $250.00, for a total value of $2,750,000.00. Following the sale, the insider now owns 44,559 shares in the company, valued at approximately $11,139,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Suzette M. Long sold 1,884 shares of the company's stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $237.28, for a total transaction of $447,035.52. Following the completion of the sale, the general counsel now owns 8,665 shares in the company, valued at approximately $2,056,031.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,915 shares of company stock worth $13,452,445. Company insiders own 0.27% of the company's stock.
Wall Street Analysts Forecast Growth
CAT has been the subject of several research analyst reports. Credit Suisse Group boosted their price objective on shares of Caterpillar from $236.00 to $255.00 and gave the company an "outperform" rating in a research report on Friday, October 28th. Tigress Financial reduced their price objective on shares of Caterpillar from $282.00 to $266.00 and set a "buy" rating on the stock in a research note on Friday, September 30th. Daiwa Capital Markets boosted their price objective on shares of Caterpillar to $205.00 in a research note on Tuesday, November 1st. Robert W. Baird boosted their price objective on shares of Caterpillar from $224.00 to $242.00 in a research note on Thursday, October 27th. Finally, UBS Group cut shares of Caterpillar from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $225.00 to $230.00 in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $241.00.
Caterpillar Company Profile
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Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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