Caterpillar Inc. (NYSE:CAT) Shares Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its stake in Caterpillar Inc. (NYSE:CAT) by 2.4% in the third quarter, HoldingsChannel.com reports. The fund owned 7,266 shares of the industrial products company’s stock after buying an additional 171 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Caterpillar were worth $2,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. 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 grew its position in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares during the last quarter. Swedbank AB acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $97,042,000. Capital International Investors raised its holdings in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after buying an additional 244,253 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Caterpillar by 104.6% during the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after buying an additional 200,134 shares during the period. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was bought 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 of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT traded up $4.24 during mid-day trading on Wednesday, reaching $392.23. The company had a trading volume of 377,668 shares, compared to its average volume of 2,641,310. The company has a 50-day moving average price of $360.22 and a two-hundred day moving average price of $349.61. The stock has a market cap of $191.82 billion, a PE ratio of 17.52, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the business posted $5.55 EPS. Caterpillar’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors 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 1.44%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several analyst reports. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup raised their price target on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday. Finally, Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $355.50.

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.