Rockefeller Capital Management L.P. Sells 40,943 Shares of Caterpillar Inc. $CAT

Rockefeller Capital Management L.P. lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 12.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 281,111 shares of the industrial products company’s stock after selling 40,943 shares during the period. Rockefeller Capital Management L.P.’s holdings in Caterpillar were worth $109,131,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Caterpillar in the 2nd quarter worth about $28,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. acquired a new stake in Caterpillar during the second quarter worth approximately $34,000. Compass Financial Services Inc increased its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the period. Finally, Maseco LLP acquired a new position in Caterpillar in the 2nd quarter valued at $45,000. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 8,184 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the transaction, the insider directly owned 41,512 shares of the company’s stock, valued at approximately $23,669,312.16. This represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the sale, the insider directly owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This trade represents a 55.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is owned by insiders.

Caterpillar Stock Performance

CAT stock opened at $552.74 on Friday. The firm has a market cap of $258.67 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average price of $506.27 and a 200-day moving average price of $427.79. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter last year, the firm posted $5.17 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent analyst reports. Barclays raised their price target on Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. UBS Group lifted their price objective on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Morgan Stanley upped their price objective on Caterpillar from $350.00 to $380.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Citigroup boosted their target price on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $600.94.

About Caterpillar

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.