Caterpillar Inc. (CAT) Shares Sold by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. decreased its stake in Caterpillar Inc. (NYSE:CAT) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 494,058 shares of the company’s stock after selling 11,622 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Caterpillar worth $43,857,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock worth $659,404,000 after buying an additional 6,557,618 shares during the period. Emerald Acquisition Ltd. bought a new stake in Caterpillar during the second quarter worth about $77,081,000. State of New Jersey Common Pension Fund D raised its stake in Caterpillar by 640.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock worth $75,810,000 after buying an additional 865,000 shares during the period. Vanguard Group Inc. raised its stake in Caterpillar by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,404,617 shares of the company’s stock worth $2,684,024,000 after buying an additional 832,572 shares during the period. Finally, Bank of Montreal Can bought a new stake in Caterpillar during the second quarter worth about $56,681,000. Institutional investors own 69.32% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) opened at 92.34 on Friday. Caterpillar Inc. has a one year low of $56.36 and a one year high of $94.95. The company has a 50 day moving average price of $86.25 and a 200-day moving average price of $80.23. The firm has a market capitalization of $54.03 billion, a PE ratio of 89.82 and a beta of 1.30.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.76 by $0.09. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.91 billion. Caterpillar had a return on equity of 12.79% and a net margin of 2.54%. Caterpillar’s revenue was down 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. On average, equities analysts predict that Caterpillar Inc. will post $3.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, October 20th. Caterpillar’s payout ratio is currently 179.07%.
A number of equities research analysts have recently issued reports on the company. OTR Global upgraded Caterpillar to a “positive” rating in a research note on Friday. RBC Capital Markets set a $73.00 price objective on Caterpillar and gave the company a “hold” rating in a research note on Wednesday, July 27th. Jefferies Group restated a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 3rd. TheStreet upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Finally, Vetr upgraded Caterpillar from a “strong sell” rating to a “sell” rating and set a $79.15 price objective for the company in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $78.26.
In other Caterpillar news, Director Daniel M. Dickinson sold 950 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $93.52, for a total transaction of $88,844.00. Following the transaction, the director now owns 17,476 shares of the company’s stock, valued at approximately $1,634,355.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.15% of the stock is owned by insiders.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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