Gladius Capital Management LP Sells 202 Shares of Caterpillar Inc. (NYSE:CAT)

Gladius Capital Management LP lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 6.8% in the third quarter, HoldingsChannel.com reports. The fund owned 2,781 shares of the industrial products company’s stock after selling 202 shares during the quarter. Caterpillar comprises about 0.1% of Gladius Capital Management LP’s investment portfolio, making the stock its 5th biggest holding. Gladius Capital Management LP’s holdings in Caterpillar were worth $1,088,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Adero Partners LLC lifted its position in shares of Caterpillar by 12.9% in the third quarter. Adero Partners LLC now owns 786 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 90 shares in the last quarter. Atlanta Consulting Group Advisors LLC raised its stake in Caterpillar by 32.3% in the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 3,053 shares of the industrial products company’s stock valued at $1,194,000 after purchasing an additional 745 shares during the last quarter. Schear Investment Advisers LLC lifted its holdings in Caterpillar by 10.8% in the 3rd quarter. Schear Investment Advisers LLC now owns 6,628 shares of the industrial products company’s stock valued at $2,592,000 after purchasing an additional 647 shares in the last quarter. Seizert Capital Partners LLC grew its holdings in shares of Caterpillar by 31.1% during the third quarter. Seizert Capital Partners LLC now owns 12,084 shares of the industrial products company’s stock worth $4,726,000 after buying an additional 2,870 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its position in shares of Caterpillar by 1.5% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 20,114 shares of the industrial products company’s stock valued at $7,867,000 after buying an additional 291 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 8.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated 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 directly owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,749 shares of company stock valued at $9,251,912. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average price target of $365.33.

Caterpillar Trading Down 0.8 %

CAT opened at $384.07 on Friday. The stock has a market capitalization of $185.43 billion, a PE ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 12-month low of $241.81 and a 12-month high of $418.50. The firm’s fifty day moving average price is $381.86 and its 200 day moving average price is $354.20.

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

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Caterpillar Profile

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.