Oppenheimer Asset Management Inc. decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 66.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,388 shares of the industrial products company’s stock after selling 8,881 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Caterpillar were worth $669,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Acropolis Investment Management LLC acquired a new stake in Caterpillar during the 3rd quarter worth about $100,000. Sound Income Strategies LLC lifted its position in Caterpillar by 181.8% during the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 429 shares during the period. St. Johns Investment Management Company LLC acquired a new stake in Caterpillar during the 3rd quarter worth about $106,000. Avestar Capital LLC lifted its position in Caterpillar by 92.3% during the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 477 shares during the period. Finally, Landaas & Co. WI ADV acquired a new stake in Caterpillar during the 2nd quarter worth about $130,000. 66.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Caterpillar stock opened at $129.33 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $173.24. The stock has a market capitalization of $74.23 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 0.69 and a beta of 1.58.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be paid a $0.86 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.66%. Caterpillar’s dividend payout ratio is presently 50.00%.
In other Caterpillar news, insider Lange Bob De purchased 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $115.58 per share, for a total transaction of $124,826.40. Following the purchase, the insider now directly owns 11,310 shares in the company, valued at $1,307,209.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the transaction, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
Several equities analysts have recently issued reports on CAT shares. Barclays reissued a “hold” rating on shares of Caterpillar in a report on Wednesday, October 24th. Royal Bank of Canada boosted their price objective on Caterpillar to $166.00 and gave the company a “sector perform” rating in a report on Tuesday, July 31st. Macquarie set a $105.00 price objective on Caterpillar and gave the company a “sell” rating in a report on Wednesday, October 24th. Morgan Stanley set a $169.00 price objective on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, OTR Global cut Caterpillar to a “positive” rating in a report on Friday, September 21st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Caterpillar presently has an average rating of “Buy” and an average price target of $158.55.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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