United Services Automobile Association Sells 20,712 Shares of Caterpillar Inc. (NYSE:CAT)

United Services Automobile Association lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 24.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 64,416 shares of the industrial products company’s stock after selling 20,712 shares during the period. United Services Automobile Association’s holdings in Caterpillar were worth $25,194,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Fisher Asset Management LLC lifted its position in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the period. Legal & General Group Plc increased its holdings in Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after buying an additional 64,452 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Caterpillar by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after buying an additional 8,088 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.0 %

CAT opened at $395.03 on Friday. The company has a market cap of $190.72 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $255.81 and a 12 month high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average of $392.84 and a 200 day moving average of $359.16.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company 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 firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.52 EPS. On average, sell-side analysts expect that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

Insider Buying and Selling at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was bought at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 23,868 shares of company stock valued at $9,679,489 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Bank of America raised their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Jefferies Financial Group increased their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Truist Financial lifted their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $372.19.

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.