Caterpillar Inc. (NYSE:CAT) Shares Sold by Sequent Asset Management LLC

Sequent Asset Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 6.5% during the third quarter, Holdings Channel.com reports. The firm owned 3,498 shares of the industrial products company’s stock after selling 244 shares during the period. Caterpillar accounts for approximately 0.7% of Sequent Asset Management LLC’s holdings, making the stock its 24th largest position. Sequent Asset Management LLC’s holdings in Caterpillar were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. International Assets Investment Management LLC grew its position in shares of Caterpillar by 39,534.0% in the 3rd 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 buying an additional 2,131,276 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after acquiring an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in shares of Caterpillar by 3,319.7% in the 2nd 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 in the 1st quarter valued at $97,042,000. Finally, Capital International Investors boosted its stake in Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after purchasing an additional 244,253 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock worth $9,251,912 in the last 90 days. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $393.37 on Friday. The company has a market capitalization of $190.74 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.85 and a beta of 1.10. The stock has a fifty day moving average of $376.80 and a two-hundred day moving average of $352.75. Caterpillar Inc. has a fifty-two week low of $233.82 and a fifty-two week high of $418.50. 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 (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (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 quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $5.52 EPS. On average, analysts anticipate that Caterpillar Inc. will post 21.77 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CAT shares. Evercore ISI reduced their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Bank of America increased their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $362.40.

About Caterpillar

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.