Caterpillar Inc. (CAT) Stake Lessened by Federated Investors Inc. PA
Federated Investors Inc. PA cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 285,570 shares of the industrial products company’s stock after selling 7,214 shares during the period. Federated Investors Inc. PA’s holdings in Caterpillar were worth $43,547,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Acropolis Investment Management LLC acquired a new position in shares of Caterpillar in the 3rd quarter valued at $100,000. Sound Income Strategies LLC increased its position in shares of Caterpillar by 181.8% in the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 429 shares during the period. St. Johns Investment Management Company LLC acquired a new position in shares of Caterpillar in the 3rd quarter valued at $106,000. Avestar Capital LLC increased its position in shares of Caterpillar by 92.3% in the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 477 shares during the period. Finally, Providence Capital Advisors LLC acquired a new position in shares of Caterpillar in the 3rd quarter valued at $118,000. 66.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of CAT opened at $126.77 on Friday. The stock has a market cap of $74.81 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 0.53 and a beta of 1.61. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.48. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $173.24.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 20th. Stockholders of record on Tuesday, January 22nd will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, January 18th. Caterpillar’s payout ratio is currently 50.00%.
In other news, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction dated 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 sale, the insider now directly owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lange Bob De bought 1,080 shares of the stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the purchase, the insider now owns 11,310 shares in the company, valued at $1,307,209.80. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
CAT has been the topic of several research reports. Bank of America raised Caterpillar from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $163.00 in a research report on Monday, December 3rd. Credit Suisse Group cut their target price on Caterpillar from $210.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. UBS Group set a $185.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, September 5th. Wells Fargo & Co set a $145.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 24th. Finally, Robert W. Baird set a $171.00 target price on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $158.90.
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Caterpillar Company 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.
Further Reading: What is the Coverage Ratio?
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