Hyperion Capital Advisors LP Buys Shares of 720 Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

Hyperion Capital Advisors LP purchased a new position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 720 shares of the industrial products company’s stock, valued at approximately $282,000.

Several other hedge funds also recently modified their holdings of CAT. International Assets Investment Management LLC boosted its holdings in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Altshuler Shaham Ltd lifted its position in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares during the period. Swedbank AB bought a new stake in Caterpillar in the first quarter valued at $97,042,000. Fisher Asset Management LLC grew its position in Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after acquiring an additional 205,012 shares during the period. Finally, National Bank of Canada FI grew its position in Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after acquiring an additional 200,134 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. UBS Group increased their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Finally, Bank of America increased their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $365.33.

Check Out Our Latest Stock Analysis on Caterpillar

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,774 shares of company stock worth $8,233,034. 0.29% of the stock is owned by corporate insiders.

Caterpillar Trading Down 1.0 %

NYSE:CAT opened at $403.65 on Thursday. The firm has a market capitalization of $194.88 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.00 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The business’s 50-day moving average price is $390.02 and its two-hundred day moving average price is $357.08. Caterpillar Inc. has a 1-year low of $246.01 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $5.52 EPS. On average, equities analysts expect that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.40%. Caterpillar’s payout ratio is presently 26.15%.

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.

See Also

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