Caterpillar Inc. $CAT Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 17.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,122 shares of the industrial products company’s stock after selling 1,311 shares during the quarter. Phoenix Financial Ltd.’s holdings in Caterpillar were worth $4,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $40,457,153,000. State Street Corp boosted its holdings in shares of Caterpillar by 4.0% during the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock worth $37,120,529,000 after purchasing an additional 1,396,356 shares during the period. Bank of America Corp DE acquired a new stake in shares of Caterpillar during the second quarter worth approximately $5,818,150,000. Bank of New York Mellon Corp purchased a new position in Caterpillar during the second quarter valued at approximately $3,192,710,000. Finally, Legal & General Group Plc purchased a new position in Caterpillar during the second quarter valued at approximately $2,783,451,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the transaction, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Maclennan acquired 350 shares of the firm’s stock in a transaction on Thursday, November 12th. The shares were bought at an average cost of $596.10 per share, for a total transaction of $208,635.00. Following the completion of the acquisition, the director directly owned 8,773 shares of the company’s stock, valued at approximately $5,229,585.30. This represents a 4.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock traded down $5.48 on Friday, reaching $599.80. The stock had a trading volume of 2,287,211 shares, compared to its average volume of 3,857,929. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. The business’s 50-day moving average price is $740.65 and its two-hundred day moving average price is $805.20. The stock has a market cap of $274.46 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. Caterpillar Inc. has a fifty-two week low of $537.08 and a fifty-two week high of $1,073.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.14. The company had revenue of $20.68 billion for the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $4.95 earnings per share. On average, sell-side analysts forecast that Caterpillar Inc. will post 27.38 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 26th. Caterpillar’s dividend payout ratio is presently 25.58%.

Top Caterpillar Stories

Here are a few of the latest stories about CAT:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Neutral Sentiment: A Trefis article examines how much downside may remain, but the provided summary gives no forecast or specific price target. How Much Downside Is Left In Caterpillar Stock?
• Negative Sentiment: Michael Burry reportedly profited from a Caterpillar options trade and is maintaining the position, suggesting continued bearish bets. The article summary does not specify the position’s size or terms. Michael Burry just made a big move on Caterpillar stock

Analysts Set New Price Targets

A number of research firms have issued reports on CAT. President Capital initiated coverage on shares of Caterpillar in a research report on Friday, September 18th. They issued a “buy” rating and a $999.00 target price for the company. Barclays boosted their price target on shares of Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Freedom Broker dropped their price target on shares of Caterpillar from $980.00 to $800.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Finally, Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $898.25.

About Caterpillar

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.