Caterpillar Inc. $CAT Stock Sold by Money Concepts Capital Corp

Money Concepts Capital Corp lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 13.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,608 shares of the industrial products company’s stock after selling 844 shares during the quarter. Money Concepts Capital Corp’s holdings in Caterpillar were worth $4,547,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Caterpillar during the second quarter worth about $40,457,153,000. State Street Corp boosted its position in Caterpillar by 4.0% in the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock valued at $37,120,529,000 after buying an additional 1,396,356 shares during the last quarter. Bank of America Corp DE acquired a new position in Caterpillar in the 2nd quarter worth approximately $5,818,150,000. Bank of New York Mellon Corp acquired a new position in Caterpillar in the 2nd quarter worth approximately $3,192,710,000. Finally, Legal & General Group Plc acquired a new position in Caterpillar in the 2nd quarter worth approximately $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $605.54 on Friday. The firm has a fifty day moving average price of $744.62 and a 200 day moving average price of $805.40. Caterpillar Inc. has a 1 year low of $537.08 and a 1 year high of $1,073.46. The stock has a market cap of $277.09 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.04 and a beta of 1.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 0.88.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $20.76 billion. During the same quarter last year, the business earned $4.95 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 27.38 earnings per share for the current year.

Caterpillar Announces Dividend

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

Caterpillar News Roundup

These are some of the CAT news items that stood out recently:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Demand across construction, mining and power-generation equipment provides revenue visibility, while capacity expansion and automation investments could support growth. Article: CAT’s Record $78B Backlog Signals Strength: Can Growth Continue?
• 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?

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. Weiss Ratings cut shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $749.00 price objective on shares of Caterpillar in a report on Wednesday, October 14th. Citigroup cut their price objective on shares of Caterpillar from $950.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Oppenheimer reissued an “outperform” rating and set a $1,009.00 target price on shares of Caterpillar in a report on Thursday, October 29th. Finally, Morgan Stanley decreased their target price on shares of Caterpillar from $915.00 to $675.00 and set an “equal weight” rating for the company in a research report on Friday, October 30th. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus target price of $898.25.

Insider Activity at Caterpillar

In other Caterpillar news, Director James C. Fish, Jr. bought 1,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were purchased at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the transaction, the director directly owned 4,714 shares of the company’s stock, valued at approximately $2,924,518.46. This represents a 26.93% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph Creed sold 32,401 shares of the 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 in the company, 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 company insiders.

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.