Caterpillar Inc. $CAT Stock Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,992 shares of the industrial products company’s stock after selling 13,295 shares during the period. Caterpillar makes up 0.8% of Eurizon Capital SGR S.p.A.’s portfolio, making the stock its 23rd biggest position. Eurizon Capital SGR S.p.A. owned about 0.08% of Caterpillar worth $300,624,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Caterpillar during the second quarter valued at approximately $40,457,153,000. Bank of America Corp DE bought a new position in Caterpillar during the second quarter valued at approximately $5,818,150,000. Bank of New York Mellon Corp bought a new position in Caterpillar during the second quarter valued at approximately $3,192,710,000. Legal & General Group Plc bought a new position in Caterpillar during the second quarter valued at approximately $2,783,451,000. Finally, Ascentis Wealth Management LLC boosted its holdings in Caterpillar by 110,539.0% in the second quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company’s stock worth $2,711,772,000 after purchasing an additional 2,515,867 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $605.54 on Friday. The firm’s 50 day moving average price is $744.62 and its 200-day moving average price is $805.40. Caterpillar Inc. has a twelve month low of $537.08 and a twelve month high of $1,073.46. The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $277.09 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.65.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.14. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The company had revenue of $20.68 billion during the quarter, compared to analyst estimates of $20.76 billion. During the same period in the previous year, the business posted $4.95 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 27.38 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be given a $1.63 dividend. The ex-dividend date is Monday, October 26th. This represents a $6.52 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 25.58%.

Top Caterpillar Stories

Here are a few of the latest stories about CAT:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Demand across construction, mining and power-generation equipment provides revenue visibility, while capacity expansion and automation investments could support growth. Article: CAT’s Record $78B Backlog Signals Strength: Can Growth Continue?
• Positive Sentiment: Evercore ISI retained its Outperform rating and sees potential upside from current levels, despite cutting its price target to $833 from $1,045. Bank of America also maintained its Buy rating. Article: Caterpillar Keeps Sliding: Why Evercore ISI Still Sees 40% Upside
• Neutral Sentiment: Recent commentary debates whether CAT’s substantial multi-year gains leave the stock fairly valued and how much recovery potential remains, rather than pointing to a clear near-term catalyst. Article: How Much Downside Is Left In Caterpillar Stock?

Analyst Ratings Changes

A number of equities research analysts have commented on CAT shares. Citigroup cut their target price on shares of Caterpillar from $950.00 to $800.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Barclays increased their price target on Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. dropped their price target on Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Wells Fargo & Company cut their price objective on Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,009.00 price objective on shares of Caterpillar in a report on Thursday, October 29th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $898.25.

Insider Buying and Selling at Caterpillar

In related news, Director James C. Fish, Jr. acquired 1,000 shares of Caterpillar stock in a transaction dated Monday, November 2nd. The stock was purchased at an average cost of $620.39 per share, for a total transaction of $620,390.00. Following the purchase, the director directly owned 4,714 shares of the company’s stock, valued at approximately $2,924,518.46. This trade represents a 26.93% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph Creed sold 32,401 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer directly owned 34,555 shares in the company, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.