OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Caterpillar Inc. (NYSE:CAT)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Caterpillar Inc. (NYSE:CAT) in the third quarter, HoldingsChannel reports. The firm acquired 1,611 shares of the industrial products company’s stock, valued at approximately $630,000.

Other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 1,327 shares during the period. Alpha Cubed Investments LLC increased its stake in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after buying an additional 6,212 shares during the period. First Affirmative Financial Network bought a new stake in Caterpillar during the 3rd quarter valued at $204,000. Inspire Advisors LLC boosted its position in Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC grew its holdings in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after acquiring an additional 4,182 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of a number of analyst reports. Barclays increased their target price 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. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Citigroup cut their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Stock Down 1.5 %

Shares of NYSE:CAT opened at $387.16 on Thursday. Caterpillar Inc. has a 12-month low of $241.81 and a 12-month high of $418.50. The stock has a market capitalization of $186.92 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.94 and a beta of 1.10. The stock has a fifty day simple moving average of $378.67 and a two-hundred day simple moving average of $353.36. 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 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $5.52 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s dividend payout ratio is 26.15%.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 12,657 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,749 shares of company stock valued at $9,251,912. Corporate insiders own 0.29% of the company’s stock.

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.