ING Groep NV Reduces Stake in Caterpillar Inc. (NYSE:CAT)

ING Groep NV decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 67.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,128 shares of the industrial products company’s stock after selling 202,355 shares during the quarter. ING Groep NV’s holdings in Caterpillar were worth $37,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at approximately $36,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar during the third quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 15,615 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. 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 transaction of $1,119,081.60. Following the sale, the insider now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 23,749 shares of company stock worth $9,251,912. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $1.66 during midday trading on Thursday, reaching $388.73. 432,988 shares of the company’s stock traded hands, compared to its average volume of 2,611,410. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The stock has a 50 day moving average of $379.68 and a 200 day moving average of $353.59. The company has a market cap of $187.68 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 1.94 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the company posted $5.52 EPS. Caterpillar’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent research reports. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Citigroup lowered their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average price target of $365.33.

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.