Probity Advisors Inc. Cuts Stake in Caterpillar Inc. (NYSE:CAT)

Probity Advisors Inc. decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,170 shares of the industrial products company’s stock after selling 310 shares during the period. Probity Advisors Inc.’s holdings in Caterpillar were worth $1,631,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc increased its position in 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $1,022,488,000 after acquiring an additional 165,358 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after acquiring an additional 198,123 shares in the last quarter. Capital Research Global Investors boosted its position in Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares during the period. Finally, Capital Wealth Planning LLC raised its position 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 valued at $460,162,000 after purchasing an additional 83,571 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent research reports. Bank of America increased their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Citigroup upped their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $355.50.

Insider Activity

In related news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’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 approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.3 %

CAT opened at $394.95 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The company has a market capitalization of $193.15 billion, a PE ratio of 17.77, a P/E/G ratio of 1.85 and a beta of 1.10. The stock’s fifty day moving average is $361.58 and its 200-day moving average is $349.92. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.55 EPS. On average, equities analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 annualized dividend and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio is currently 25.46%.

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.