Caterpillar Inc. (CAT) Shares Sold by Mckinley Capital Management LLC Delaware
Mckinley Capital Management LLC Delaware lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,148 shares of the industrial products company’s stock after selling 3,178 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Caterpillar were worth $12,526,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Jennison Associates LLC lifted its stake in Caterpillar by 5.4% during the second quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock worth $874,069,000 after purchasing an additional 327,470 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Caterpillar by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,290,431 shares of the industrial products company’s stock worth $349,268,000 after purchasing an additional 50,927 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Caterpillar by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock worth $291,325,000 after purchasing an additional 151,960 shares during the last quarter. Swiss National Bank lifted its stake in Caterpillar by 3.5% during the second quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock worth $268,086,000 after purchasing an additional 67,200 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Caterpillar by 23.6% during the second quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after purchasing an additional 374,038 shares during the last quarter. 67.14% of the stock is owned by hedge funds and other institutional investors.
CAT has been the subject of several research analyst reports. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 price target for the company in a research note on Thursday, September 20th. Citigroup raised Caterpillar to an “outperform” rating in a research note on Friday, September 21st. OTR Global lowered Caterpillar to a “positive” rating in a research note on Friday, September 21st. Macquarie reissued a “sell” rating on shares of Caterpillar in a research note on Thursday, October 11th. Finally, UBS Group set a $185.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $158.55.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The business had revenue of $13.51 billion during the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. Caterpillar’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.95 EPS. Equities research analysts forecast that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s payout ratio is 50.00%.
In other Caterpillar news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De purchased 1,080 shares of the stock in a transaction on Friday, October 26th. The shares were acquired at an average cost of $115.58 per share, with a total value of $124,826.40. Following the transaction, the insider now directly owns 11,310 shares in the company, valued at $1,307,209.80. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
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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