Olstein Capital Management L.P. lowered its position in Caterpillar Inc. (NYSE:CAT) by 55.6% during the 4th quarter, HoldingsChannel reports. The fund owned 22,000 shares of the industrial products company’s stock after selling 27,500 shares during the period. Olstein Capital Management L.P.’s holdings in Caterpillar were worth $3,467,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after acquiring an additional 2,377,623 shares in the last quarter. FMR LLC boosted its holdings in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after acquiring an additional 2,052,300 shares in the last quarter. Jennison Associates LLC boosted its holdings in Caterpillar by 126.5% in the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after acquiring an additional 3,324,051 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Caterpillar by 10.9% in the second quarter. TIAA CREF Investment Management LLC now owns 3,058,115 shares of the industrial products company’s stock worth $328,625,000 after acquiring an additional 301,739 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Caterpillar by 0.4% in the third quarter. Legal & General Group Plc now owns 2,955,916 shares of the industrial products company’s stock worth $368,648,000 after acquiring an additional 11,745 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.
Shares of Caterpillar Inc. (CAT) opened at $156.29 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $93,402.96, a P/E ratio of 124.04, a P/E/G ratio of 1.67 and a beta of 1.23. Caterpillar Inc. has a 52-week low of $90.34 and a 52-week high of $173.24.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is 247.62%.
In related news, CFO Bradley M. Halverson sold 17,210 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the completion of the sale, the chief financial officer now directly owns 7,814 shares of the company’s stock, valued at $1,073,096.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total value of $15,526,004.91. Following the sale, the insider now directly owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. Insiders have sold 118,784 shares of company stock valued at $18,776,796 over the last ninety days. 0.14% of the stock is currently owned by company insiders.
Several brokerages have issued reports on CAT. Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $166.15 price target on the stock. in a report on Monday. UBS Group set a $190.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. reissued a “buy” rating on shares of Caterpillar in a research note on Monday, February 12th. Credit Suisse Group reissued an “outperform” rating and issued a $169.37 price objective (down from $210.00) on shares of Caterpillar in a research note on Friday, January 26th. Finally, TheStreet downgraded Caterpillar from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. Caterpillar currently has an average rating of “Buy” and an average target price of $167.60.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.