DekaBank Deutsche Girozentrale Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

DekaBank Deutsche Girozentrale cut its holdings in Caterpillar Inc. (NYSE:CAT) by 17.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 326,603 shares of the industrial products company’s stock after selling 67,606 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Caterpillar worth $127,554,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CAT. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the second quarter worth about $28,000. Fairman Group LLC purchased a new position in Caterpillar in the 1st quarter valued at about $29,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the 2nd quarter worth about $36,000. Finally, POM Investment Strategies LLC increased its stake in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAT has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI decreased their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $355.50.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction 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 in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Down 0.3 %

Shares of NYSE CAT opened at $385.97 on Friday. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The stock has a market cap of $188.76 billion, a P/E ratio of 17.43, a PEG ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The business’s fifty day simple moving average is $368.57 and its 200-day simple moving average is $350.95.

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

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

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.