M&G PLC Sells 3,092 Shares of Caterpillar Inc. $CAT

by · The Cerbat Gem

M&G PLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,613 shares of the industrial products company’s stock after selling 3,092 shares during the period. M&G PLC’s holdings in Caterpillar were worth $10,326,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC increased its holdings in shares of Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. grew its position in Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after acquiring an additional 1,364,183 shares during the last quarter. Nuveen LLC acquired a new stake in Caterpillar during the 1st quarter valued at $391,788,000. Assenagon Asset Management S.A. raised its position in Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after acquiring an additional 268,300 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 300 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of $568.86 per share, for a total transaction of $170,658.00. Following the purchase, the director owned 7,947 shares in the company, valued at approximately $4,520,730.42. This represents a 3.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the sale, the chief accounting officer owned 1,323 shares of the company’s stock, valued at $757,047.06. This trade represents a 47.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,846 shares of company stock worth $38,241,493 in the last ninety days. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $573.22 on Thursday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $596.21. The company has a market cap of $268.25 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The firm has a 50-day moving average of $501.01 and a 200-day moving average of $424.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT – Get Free Report) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the previous year, the company posted $5.17 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Royal Bank Of Canada assumed coverage on Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price target for the company. Hsbc Global Res raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Oppenheimer increased their target price on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Barclays boosted their price target on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $596.59.

Get Our Latest Research Report on CAT

Caterpillar Profile

(Free Report)

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.

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