5,369 Shares in Caterpillar Inc. $CAT Purchased by Permanent Capital Management LP

Permanent Capital Management LP purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,369 shares of the industrial products company’s stock, valued at approximately $2,562,000. Caterpillar comprises approximately 0.5% of Permanent Capital Management LP’s portfolio, making the stock its 24th biggest position.

Several other hedge funds also recently made changes to their positions in CAT. Fisher Asset Management LLC boosted its holdings in Caterpillar by 2.3% during the second quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock worth $3,656,286,000 after buying an additional 208,196 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares in the last quarter. Norges Bank acquired a new position in shares of Caterpillar in the 2nd quarter worth $2,165,899,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Caterpillar by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after purchasing an additional 264,054 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Caterpillar by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock valued at $1,295,432,000 after purchasing an additional 33,467 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Down 0.1%

CAT stock opened at $583.09 on Monday. The company has a 50 day moving average of $568.28 and a two-hundred day moving average of $478.35. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $627.50. The company has a market cap of $272.88 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 2.74 and a beta of 1.57.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. Caterpillar’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.17 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s payout ratio is currently 31.01%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CAT shares. Argus boosted their price objective on Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Citigroup upgraded shares of Caterpillar from a “buy” rating to a “mixed” rating in a report on Tuesday, December 16th. DA Davidson upped their price target on shares of Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $616.00.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 300 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average price of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the acquisition, the director owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This represents a 3.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the transaction, the insider directly owned 41,512 shares in the company, valued at approximately $23,669,312.16. The trade was a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,895 shares of company stock worth $34,007,516 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.