Caterpillar Inc. (NYSE:CAT) Shares Bought by Daiwa Securities Group Inc.

by · The Cerbat Gem

Daiwa Securities Group Inc. increased its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,359 shares of the industrial products company’s stock after purchasing an additional 7,602 shares during the period. Daiwa Securities Group Inc.’s holdings in Caterpillar were worth $56,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAT. International Assets Investment Management LLC grew its position in shares of Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Altshuler Shaham Ltd grew its position in Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the period. Swedbank AB purchased a new stake in Caterpillar during the first quarter valued at about $97,042,000. National Bank of Canada FI grew its position in Caterpillar by 104.6% during the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after acquiring an additional 200,134 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in Caterpillar by 28,321.2% during the second quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock valued at $668,000 after acquiring an additional 199,948 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAT. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating 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 stock an “underperform” rating in a research report on Thursday, October 31st. Citigroup decreased their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $365.33.

Get Our Latest Stock Report on CAT

Caterpillar Trading Up 2.0 %

NYSE:CAT opened at $397.49 on Friday. 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 Inc. has a one year low of $246.01 and a one year high of $418.50. The business’s 50-day simple moving average is $386.81 and its 200 day simple moving average is $355.92. The stock has a market cap of $191.91 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT – Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.52 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Activity

In related news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred 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 sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,774 shares of company stock valued at $8,233,034. Company insiders own 0.29% of the company’s stock.

About Caterpillar

(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.

Featured Articles