Intech Investment Management LLC Has $68.67 Million Position in Caterpillar Inc. (NYSE:CAT)

Intech Investment Management LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 59.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 175,578 shares of the industrial products company’s stock after purchasing an additional 65,134 shares during the period. Caterpillar makes up 0.8% of Intech Investment Management LLC’s portfolio, making the stock its 16th biggest holding. Intech Investment Management LLC’s holdings in Caterpillar were worth $68,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter valued at $28,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar during the 3rd quarter valued at $36,000. Fairscale Capital LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $36,000. Finally, POM Investment Strategies LLC lifted its position in shares of Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group upped their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $365.33.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 20,774 shares of company stock worth $8,233,034. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 0.2 %

NYSE CAT opened at $381.44 on Thursday. The business has a 50 day simple moving average of $383.83 and a 200 day simple moving average of $355.03. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The stock has a market capitalization of $184.16 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.89 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 (NYSE:CAT) last released its 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 business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.52 EPS. Research analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a $1.41 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.48%. Caterpillar’s payout ratio is currently 26.15%.

Caterpillar Company 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.