Caterpillar Inc. $CAT Stake Lessened by Addenda Capital Inc.

Addenda Capital Inc. decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,852 shares of the industrial products company’s stock after selling 5,106 shares during the period. Addenda Capital Inc.’s holdings in Caterpillar were worth $9,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Kilter Group LLC acquired a new stake in shares of Caterpillar in the second quarter valued at $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Caterpillar during the 2nd quarter valued at about $28,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $32,000. RiverPark Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $32,000. Finally, Harbor Asset Planning Inc. acquired a new stake in Caterpillar during the second quarter valued at approximately $34,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

NYSE CAT opened at $565.73 on Friday. The company has a 50 day simple moving average of $561.06 and a 200-day simple moving average of $467.10. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $627.50. The firm has a market capitalization of $264.75 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.65 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the prior year, the business earned $5.17 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Bank of America lifted their target price on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Evercore ISI upped their target price on Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Oppenheimer increased their price target on Caterpillar from $513.00 to $645.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $612.16.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $571.44, for a total value of $5,714,400.00. Following the completion of the sale, the chief financial officer owned 55,460 shares of the company’s stock, valued at approximately $31,692,062.40. The trade was a 15.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the transaction, the insider owned 8,649 shares in the company, valued at $4,874,576.40. This represents a 55.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 79,061 shares of company stock valued at $41,949,366. Corporate insiders own 0.33% of the company’s stock.

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.