Whittier Trust Co. of Nevada Inc. Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Whittier Trust Co. of Nevada Inc. trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,119 shares of the industrial products company’s stock after selling 472 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Caterpillar were worth $13,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Legal & General Group Plc grew its position in Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after acquiring an additional 165,358 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after acquiring an additional 198,123 shares during the period. Capital Research Global Investors raised its stake in shares of Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after acquiring an additional 119,326 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its stake in Caterpillar by 6.4% in the second quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock worth $460,162,000 after purchasing an additional 83,571 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CAT shares. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Bank of America lifted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $355.50.

Caterpillar Stock Performance

NYSE:CAT traded down $2.50 during trading hours on Monday, reaching $389.95. 1,305,587 shares of the stock were exchanged, compared to its average volume of 2,636,583. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The firm has a 50 day simple moving average of $363.86 and a 200-day simple moving average of $350.16. The stock has a market capitalization of $190.71 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the prior year, the business posted $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. Caterpillar’s dividend payout ratio is currently 25.46%.

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.