M&G Plc Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

M&G Plc raised its stake in Caterpillar Inc. (NYSE:CAT) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 42,988 shares of the industrial products company’s stock after buying an additional 347 shares during the period. M&G Plc’s holdings in Caterpillar were worth $16,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth $28,000. Fairscale Capital LLC purchased a new stake in Caterpillar in the 2nd quarter worth about $36,000. POM Investment Strategies LLC raised its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the period. Finally, TruNorth Capital Management LLC grew its stake in Caterpillar by 215.4% in the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after buying an additional 84 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 2.1 %

NYSE CAT opened at $408.21 on Friday. The firm has a market cap of $197.94 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $233.82 and a 1-year high of $418.50. The stock has a 50-day moving average of $376.06 and a 200-day moving average of $352.50. 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 data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share 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 company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the previous year, the firm posted $5.52 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.77 EPS for the current year.

Caterpillar Dividend Announcement

The company 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. This represents a $5.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAT shares. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. UBS Group increased their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday. Robert W. Baird increased their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $358.19.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s 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 sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,092 shares of company stock worth $4,059,378. 0.29% of the stock is currently owned by company insiders.

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.