Caterpillar Inc. (CAT) Shares Sold by Meyer Handelman Co.
Meyer Handelman Co. decreased its position in Caterpillar Inc. (NYSE:CAT) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,366 shares of the industrial products company’s stock after selling 6,700 shares during the quarter. Meyer Handelman Co.’s holdings in Caterpillar were worth $22,167,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jennison Associates LLC raised its position in Caterpillar by 5.4% in the second quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock valued at $874,069,000 after purchasing an additional 327,470 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Caterpillar by 7.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,239,504 shares of the industrial products company’s stock valued at $303,834,000 after purchasing an additional 145,707 shares during the period. Dimensional Fund Advisors LP raised its position in Caterpillar by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock valued at $291,325,000 after purchasing an additional 151,960 shares during the period. Swiss National Bank raised its position in Caterpillar by 3.5% in the second quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock valued at $268,086,000 after purchasing an additional 67,200 shares during the period. Finally, Janus Henderson Group PLC raised its position in Caterpillar by 23.6% in the second quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock valued at $265,581,000 after purchasing an additional 374,038 shares during the period. 66.56% of the stock is currently owned by institutional investors.
Shares of CAT stock opened at $126.91 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market cap of $79.72 billion, a P/E ratio of 18.45, a PEG ratio of 0.74 and a beta of 1.58. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $173.24.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be paid a dividend of $0.86 per share. The ex-dividend date is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.71%. Caterpillar’s payout ratio is currently 50.00%.
A number of analysts have issued reports on CAT shares. Stifel Nicolaus cut their target price on Caterpillar from $174.00 to $168.00 and set a “hold” rating on the stock in a research report on Tuesday, August 7th. Credit Suisse Group cut their target price on Caterpillar from $210.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. UBS Group set a $185.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Wells Fargo & Co set a $145.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Finally, Robert W. Baird set a $171.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $158.55.
In other news, insider Lange Bob De bought 1,080 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the purchase, the insider now owns 11,310 shares in the company, valued at approximately $1,307,209.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Denise C. Johnson sold 35,051 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the transaction, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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