Martingale Asset Management L P Grows Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Martingale Asset Management L P lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 99.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,563 shares of the industrial products company’s stock after purchasing an additional 4,273 shares during the period. Martingale Asset Management L P’s holdings in Caterpillar were worth $3,349,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alpha Cubed Investments LLC lifted its position in Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after acquiring an additional 4,181 shares during the last quarter. First Affirmative Financial Network purchased a new stake in Caterpillar in the third quarter valued at $204,000. Inspire Advisors LLC lifted its position in Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC lifted its position in Caterpillar by 33.7% in the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after acquiring an additional 4,182 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Up 0.6 %

Shares of CAT opened at $406.11 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm’s 50-day moving average is $391.37 and its two-hundred day moving average is $357.75. Caterpillar Inc. has a twelve month low of $247.84 and a twelve month high of $418.50. The firm has a market capitalization of $196.07 billion, a P/E ratio of 18.83, a PEG ratio of 1.99 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the company posted $5.52 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, research analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAT shares. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup reduced 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. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $365.33.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,589 shares of company stock valued at $7,113,953 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

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.