Gulf International Bank UK Ltd boosted its stake in Caterpillar Inc. (NYSE:CAT) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,735 shares of the industrial products company’s stock after purchasing an additional 10,640 shares during the period. Gulf International Bank UK Ltd’s holdings in Caterpillar were worth $31,067,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acropolis Investment Management LLC acquired a new stake in Caterpillar in the 3rd quarter valued at $100,000. Sound Income Strategies LLC increased its holdings in Caterpillar by 181.8% in the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 429 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new stake in Caterpillar in the 3rd quarter valued at $106,000. Landaas & Co. WI ADV acquired a new stake in Caterpillar in the 2nd quarter valued at $130,000. Finally, Avestar Capital LLC increased its holdings in Caterpillar by 92.3% in the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 66.56% of the company’s stock.
NYSE:CAT opened at $135.10 on Thursday. The stock has a market capitalization of $76.32 billion, a P/E ratio of 11.96, a PEG ratio of 0.71 and a beta of 1.58. Caterpillar Inc. has a one year low of $112.06 and a one year high of $173.24. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.48 and a quick ratio of 1.02.
The company 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 is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a yield of 2.55%. Caterpillar’s dividend payout ratio (DPR) is 50.00%.
In other news, insider Lange Bob De purchased 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the purchase, the insider now owns 11,310 shares of the company’s stock, valued at $1,307,209.80. The purchase was disclosed in a document filed with the SEC, 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 stock was 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 $3,519,312.68. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
Several analysts recently issued reports on CAT shares. Goldman Sachs Group downgraded Caterpillar from a “conviction-buy” rating to a “buy” rating in a report on Monday, July 16th. Zacks Investment Research upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Tuesday, July 17th. William Blair restated a “hold” rating on shares of Caterpillar in a research note on Monday, July 30th. Barclays downgraded Caterpillar from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $170.00 to $155.00 in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada raised their target price on Caterpillar to $166.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price 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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