Quadrature Capital Ltd Cuts Stake in Caterpillar Inc. (NYSE:CAT)

Quadrature Capital Ltd decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 70.0% in the third quarter, Holdings Channel.com reports. The firm owned 30,067 shares of the industrial products company’s stock after selling 70,081 shares during the period. Quadrature Capital Ltd’s holdings in Caterpillar were worth $11,753,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quantinno Capital Management LP raised its holdings in Caterpillar by 70.3% during the 3rd quarter. Quantinno Capital Management LP now owns 69,858 shares of the industrial products company’s stock valued at $27,323,000 after buying an additional 28,826 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in Caterpillar by 11.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 255,485 shares of the industrial products company’s stock valued at $99,925,000 after buying an additional 25,568 shares during the last quarter. Reynders McVeigh Capital Management LLC raised its holdings in Caterpillar by 9.2% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 2,356 shares of the industrial products company’s stock valued at $922,000 after buying an additional 199 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in Caterpillar during the 3rd quarter valued at $139,000. Finally, IHT Wealth Management LLC raised its holdings in Caterpillar by 24.1% during the 3rd quarter. IHT Wealth Management LLC now owns 13,532 shares of the industrial products company’s stock valued at $5,298,000 after buying an additional 2,626 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction 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 trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,868 shares of company stock valued at $9,679,489. 0.29% of the stock is owned by insiders.

Caterpillar Stock Performance

Shares of CAT stock opened at $399.51 on Thursday. Caterpillar Inc. has a one year low of $253.78 and a one year high of $418.50. The company’s 50-day moving average is $392.68 and its 200 day moving average is $358.68. The company has a market capitalization of $192.88 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.97 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 announced its quarterly earnings data 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the company posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

Analysts Set New Price Targets

CAT has been the subject of a number of recent analyst reports. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Citigroup decreased their price objective 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. 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 report on Monday, October 14th. Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $365.33.

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.