Meeder Asset Management Inc. grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,381 shares of the industrial products company’s stock after buying an additional 166 shares during the period. Meeder Asset Management Inc.’s holdings in Caterpillar were worth $553,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Caterpillar by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 50,200,890 shares of the industrial products company’s stock valued at $6,841,880,000 after acquiring an additional 411,655 shares during the period. Primecap Management Co. CA increased its position in shares of Caterpillar by 0.5% during the 2nd quarter. Primecap Management Co. CA now owns 9,398,329 shares of the industrial products company’s stock valued at $1,280,898,000 after purchasing an additional 46,928 shares during the period. Sanders Capital LLC increased its position in shares of Caterpillar by 31.5% during the 2nd quarter. Sanders Capital LLC now owns 6,243,500 shares of the industrial products company’s stock valued at $958,477,000 after purchasing an additional 1,496,100 shares during the period. Nuveen Asset Management LLC increased its position in shares of Caterpillar by 1,092.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,518,229 shares of the industrial products company’s stock valued at $615,789,000 after purchasing an additional 4,139,332 shares during the period. Finally, Morgan Stanley increased its position in shares of Caterpillar by 4.2% during the 2nd quarter. Morgan Stanley now owns 4,367,073 shares of the industrial products company’s stock valued at $595,189,000 after purchasing an additional 174,165 shares during the period. 64.97% of the stock is currently owned by institutional investors.
CAT has been the topic of several research analyst reports. Bank of America reiterated a “buy” rating and set a $145.00 price target (down from $150.00) on shares of Caterpillar in a research report on Monday, September 9th. UBS Group lowered their price target on Caterpillar from $122.00 to $117.00 and set a “sell” rating on the stock in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 14th. Citigroup lowered their price target on Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Wells Fargo & Co cut Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price target on the stock. in a research report on Wednesday, September 11th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $137.42.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.29). The company had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.97 earnings per share. On average, equities research analysts anticipate that Caterpillar Inc. will post 11.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.12 annualized dividend and a dividend yield of 3.15%. Caterpillar’s dividend payout ratio (DPR) is presently 36.72%.
In other news, General Counsel Suzette M. Long sold 5,019 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now owns 12,569 shares of the company’s stock, valued at $1,587,967.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.37% of the company’s stock.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
Featured Article: Economic Reports
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.