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.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $13.28 billion. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 11.64 earnings per share for the current year.

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.

ILLEGAL ACTIVITY NOTICE: This piece was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally stolen and republished in violation of international trademark & copyright laws. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2018/11/10/caterpillar-inc-cat-shares-sold-by-meyer-handelman-co.html.

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.

Featured Article: What is a Swap?

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.