R Squared Ltd Purchases New Shares in Caterpillar Inc. $CAT

R Squared Ltd acquired a new position in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,483 shares of the industrial products company’s stock, valued at approximately $1,202,000. Caterpillar comprises approximately 0.6% of R Squared Ltd’s portfolio, making the stock its 20th biggest holding.

Other hedge funds have also modified their holdings of the company. Welch Financial Planning LLC boosted its position in shares of Caterpillar by 33.5% during the 3rd quarter. Welch Financial Planning LLC now owns 538 shares of the industrial products company’s stock valued at $437,000 after acquiring an additional 135 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of Caterpillar by 0.9% in the third quarter. CENTRAL TRUST Co now owns 35,583 shares of the industrial products company’s stock valued at $28,850,000 after purchasing an additional 317 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Caterpillar by 0.6% in the third quarter. Fifth Third Bancorp now owns 599,504 shares of the industrial products company’s stock valued at $486,072,000 after purchasing an additional 3,558 shares in the last quarter. Bayban bought a new stake in Caterpillar in the third quarter worth $1,493,000. Finally, Banyan Capital Management Inc. bought a new stake in Caterpillar in the third quarter worth $726,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, Director James C. Fish, Jr. acquired 1,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was acquired at an average price of $620.39 per share, with a total value of $620,390.00. Following the completion of the purchase, the director directly owned 4,714 shares in the company, valued at approximately $2,924,518.46. This trade represents a 26.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Creed sold 32,401 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $605.54 on Friday. The firm has a market capitalization of $277.09 billion, a PE ratio of 23.76, a PEG ratio of 1.04 and a beta of 1.65. The stock’s fifty day moving average is $744.62 and its 200 day moving average is $805.40. Caterpillar Inc. has a fifty-two week low of $537.08 and a fifty-two week high of $1,073.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42.

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

Caterpillar Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC set a $980.00 price target on shares of Caterpillar in a research note on Thursday, September 10th. Royal Bank Of Canada dropped their price objective on shares of Caterpillar from $897.00 to $722.00 and set a “sector perform” rating for the company in a research note on Friday, October 30th. Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Finally, Citigroup lowered their price target on shares of Caterpillar from $950.00 to $800.00 and set a “buy” rating for the company in a report on Friday, October 30th. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average target price of $898.25.

Top Caterpillar Stories

These are some of the CAT stories that stood out recently:

• Positive Sentiment: Evercore ISI retained its Outperform rating and sees potential upside from current levels, despite cutting its price target to $833 from $1,045. Bank of America also maintained its Buy rating. Article: Caterpillar Keeps Sliding: Why Evercore ISI Still Sees 40% Upside
• Neutral Sentiment: Recent commentary debates whether CAT’s substantial multi-year gains leave the stock fairly valued and how much recovery potential remains, rather than pointing to a clear near-term catalyst. Article: How Much Downside Is Left In Caterpillar Stock?
• Negative Sentiment: Bank of America warned that CAT’s valuation could face further pressure, citing uncertainty around data-center investment. The concern adds to the recent selloff and questions about whether growth expectations are already reflected in the shares. Article: Caterpillar faces further valuation risks despite machinery strength, Bank of America warns

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.