Transcendent Capital Group LLC Purchases 729 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Transcendent Capital Group LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 122.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,324 shares of the industrial products company’s stock after buying an additional 729 shares during the quarter. Transcendent Capital Group LLC’s holdings in Caterpillar were worth $518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC increased its position in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after acquiring an additional 2,131,276 shares during the period. Canada Pension Plan Investment Board increased its holdings in Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after purchasing an additional 307,479 shares during the period. Altshuler Shaham Ltd raised its position in Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares in the last quarter. Swedbank AB purchased a new stake in shares of Caterpillar in the 1st quarter worth $97,042,000. Finally, Capital International Investors increased its stake in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after buying an additional 244,253 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 3.6 %

NYSE:CAT opened at $393.37 on Friday. The company’s 50 day moving average is $376.80 and its two-hundred day moving average is $352.75. The company has a market cap of $190.75 billion, a PE ratio of 18.24, a P/E/G ratio of 2.06 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $233.82 and a twelve month high of $418.50. 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 – Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm 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%. Caterpillar’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.52 earnings per share. Analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insiders Place Their Bets

In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

CAT has been the subject of a number of research reports. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Citigroup decreased their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus target price of $362.40.

Read Our Latest Analysis on Caterpillar

Caterpillar Company Profile

(Free Report)

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.

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