Los Angeles Capital Management LLC Has $90.50 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Los Angeles Capital Management LLC cut its position in Caterpillar Inc. (NYSE:CAT) by 52.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,387 shares of the industrial products company’s stock after selling 251,919 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Caterpillar were worth $90,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at $28,000. Fairscale Capital LLC acquired a new position in Caterpillar in the 2nd quarter valued at $36,000. Capital Performance Advisors LLP bought a new stake in Caterpillar in the 3rd quarter valued at $36,000. Finally, POM Investment Strategies LLC boosted its holdings in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT stock traded down $14.84 during trading on Friday, hitting $393.37. 3,345,862 shares of the stock traded hands, compared to its average volume of 2,292,855. Caterpillar Inc. has a one year low of $233.82 and a one year high of $418.50. The stock has a market cap of $190.75 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 2.06 and a beta of 1.10. The company has a 50 day simple moving average of $376.80 and a 200 day simple moving average of $352.67. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.52 EPS. Equities analysts expect that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Insider Buying and Selling at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CAT shares. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. UBS Group increased their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Robert W. Baird increased their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $362.40.

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.