Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 59,350 shares of the industrial products company’s stock after selling 6,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Caterpillar were worth $9,050,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Xact Kapitalforvaltning AB lifted its stake in shares of Caterpillar by 2.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock worth $8,446,000 after purchasing an additional 1,367 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Caterpillar in the 2nd quarter worth approximately $1,333,000. GWM Advisors LLC lifted its stake in shares of Caterpillar by 70.7% in the 2nd quarter. GWM Advisors LLC now owns 9,006 shares of the industrial products company’s stock worth $1,227,000 after purchasing an additional 3,729 shares during the period. James Investment Research Inc. lifted its stake in shares of Caterpillar by 6.8% in the 2nd quarter. James Investment Research Inc. now owns 14,165 shares of the industrial products company’s stock worth $1,922,000 after purchasing an additional 905 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Caterpillar by 13,856.0% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,253,525 shares of the industrial products company’s stock worth $9,194,000 after purchasing an additional 1,244,543 shares during the period. 66.53% of the stock is currently owned by hedge funds and other institutional investors.

In other Caterpillar news, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the completion of the sale, the insider now directly owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lange Bob De bought 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $115.58 per share, with a total value of $124,826.40. Following the completion of the acquisition, the insider now owns 11,310 shares of the company’s stock, valued at approximately $1,307,209.80. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.

Shares of CAT opened at $129.96 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 1.60. Caterpillar Inc. has a 1 year low of $112.06 and a 1 year high of $173.24. The company has a market cap of $76.69 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 0.72 and a beta of 1.58.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The business had revenue of $13.51 billion during the quarter, compared to analyst estimates of $13.28 billion. During the same period last year, the firm posted $1.95 EPS. The company’s revenue was up 18.4% on a year-over-year basis. Analysts forecast that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, October 19th. Caterpillar’s dividend payout ratio (DPR) is currently 50.00%.

Several equities analysts have recently weighed in on CAT shares. Stifel Nicolaus lowered their price objective on shares of Caterpillar from $174.00 to $168.00 and set a “hold” rating on the stock in a research note on Tuesday, August 7th. Credit Suisse Group decreased their target price on shares of Caterpillar from $210.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. UBS Group set a $185.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Wells Fargo & Co set a $145.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Finally, Robert W. Baird set a $171.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Caterpillar has a consensus rating of “Buy” and an average price target of $158.55.

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Caterpillar Profile

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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