Associated Banc Corp Reduces Stock Position in Caterpillar Inc. $CAT

Associated Banc Corp reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 20.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,848 shares of the industrial products company’s stock after selling 10,593 shares during the quarter. Associated Banc Corp’s holdings in Caterpillar were worth $16,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAT. Aire Advisors LLC increased its position in shares of Caterpillar by 0.3% in the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after purchasing an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC lifted its position in shares of Caterpillar by 0.5% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after purchasing an additional 25 shares during the last quarter. Redwood Wealth Management Group LLC grew its stake in Caterpillar by 0.9% in the second quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock worth $1,036,000 after purchasing an additional 25 shares in the last quarter. Tsfg LLC increased its holdings in Caterpillar by 9.8% in the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after buying an additional 25 shares during the last quarter. Finally, GSB Wealth Management LLC raised its stake in Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Schaupp sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $572.22, for a total transaction of $686,664.00. Following the completion of the sale, the chief accounting officer directly owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This represents a 47.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 86,229 shares of company stock valued at $43,323,118. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $560.05 on Tuesday. The firm’s 50 day moving average is $521.18 and its two-hundred day moving average is $438.34. The firm has a market capitalization of $262.09 billion, a P/E ratio of 28.75, a PEG ratio of 3.33 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the previous year, the firm posted $5.17 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were paid a $1.51 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is presently 31.01%.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. Evercore ISI lifted their target price on Caterpillar from $476.00 to $630.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Wells Fargo & Company assumed coverage on Caterpillar in a research note on Thursday, November 13th. They set an “overweight” rating and a $675.00 price objective on the stock. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Citigroup increased their target price on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Argus raised their price target on shares of Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $610.32.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.