Investment Management Corp of Ontario Has $16.76 Million Position in Caterpillar Inc. (NYSE:CAT)

Investment Management Corp of Ontario decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,845 shares of the industrial products company’s stock after selling 494 shares during the period. Investment Management Corp of Ontario’s holdings in Caterpillar were worth $16,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC increased its holdings in shares of Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the period. Legal & General Group Plc lifted its stake in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Caterpillar by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after acquiring an additional 64,452 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Caterpillar by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after purchasing an additional 8,088 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. UBS Group boosted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Truist Financial increased their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $365.33.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,868 shares of company stock valued at $9,679,489 in the last three months. 0.29% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $402.71 on Tuesday. The business has a 50-day moving average price of $391.99 and a two-hundred day moving average price of $358.09. The company has a market cap of $194.43 billion, a P/E ratio of 18.66, a PEG ratio of 2.01 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $252.42 and a 1-year high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the company posted $5.52 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

About Caterpillar

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.