Paloma Partners Management Co Has $5.51 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Paloma Partners Management Co reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 15.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,083 shares of the industrial products company’s stock after selling 2,517 shares during the quarter. Paloma Partners Management Co’s holdings in Caterpillar were worth $5,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Fisher Asset Management LLC grew its position in Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $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% in the second 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 buying an additional 75,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Caterpillar by 1.8% during 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 valued at $1,418,793,000 after buying an additional 64,452 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 8,088 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $1,022,488,000 after acquiring an additional 165,358 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. 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 research note on Thursday, October 31st. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their price target for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $365.33.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated 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 transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,589 shares of company stock valued at $7,113,953 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 0.6 %

Shares of Caterpillar stock opened at $406.11 on Monday. The company’s 50-day moving average price is $391.37 and its 200-day moving average price is $357.73. The company has a market cap of $196.07 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.01 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $247.84 and a 12-month 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 quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.52 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.39%. Caterpillar’s dividend payout ratio is currently 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.