Caterpillar Inc. (NYSE:CAT) Stake Cut by Pinnacle Financial Partners Inc.


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Pinnacle Financial Partners Inc. cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,948 shares of the industrial products company’s stock after selling 109 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Caterpillar were worth $1,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CAT. PNC Financial Services Group Inc. lifted its stake in Caterpillar by 4.0% during the second quarter. PNC Financial Services Group Inc. now owns 367,047 shares of the industrial products company’s stock worth $46,431,000 after purchasing an additional 13,950 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Caterpillar by 317.3% in the second quarter. Cubist Systematic Strategies LLC now owns 11,300 shares of the industrial products company’s stock worth $1,429,000 after buying an additional 8,592 shares during the period. Man Group plc increased its position in Caterpillar by 208.0% in the second quarter. Man Group plc now owns 14,163 shares of the industrial products company’s stock worth $1,792,000 after buying an additional 9,565 shares during the period. Engineers Gate Manager LP acquired a new stake in Caterpillar in the second quarter worth $1,217,000. Finally, Orion Portfolio Solutions LLC increased its position in Caterpillar by 3.7% in the second quarter. Orion Portfolio Solutions LLC now owns 3,169 shares of the industrial products company’s stock worth $401,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Shares of CAT stock opened at $195.89 on Thursday. The stock has a 50-day simple moving average of $181.37 and a 200 day simple moving average of $156.56. Caterpillar Inc. has a fifty-two week low of $87.50 and a fifty-two week high of $200.17. The stock has a market capitalization of $106.42 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.15 and a beta of 0.97. The company has a quick ratio of 1.08, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, October 27th. The industrial products company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.19. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. The business had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.78 billion. During the same quarter last year, the business posted $2.66 earnings per share. The company’s quarterly revenue was down 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that Caterpillar Inc. will post 5.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 19th. Shareholders of record on Wednesday, January 20th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Tuesday, January 19th. This represents a $4.12 annualized dividend and a yield of 2.10%. Caterpillar’s payout ratio is presently 37.25%.

Several equities research analysts have weighed in on CAT shares. OTR Global raised Caterpillar to a “positive” rating in a research report on Monday, December 14th. Deutsche Bank Aktiengesellschaft increased their target price on Caterpillar from $171.00 to $186.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. increased their target price on Caterpillar from $178.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 19th. Robert W. Baird increased their target price on Caterpillar to $220.00 in a research report on Wednesday, December 30th. Finally, Wells Fargo & Company raised Caterpillar from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $160.00 to $220.00 in a report on Friday, October 16th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $154.84.

In related news, CAO Gary Michael Marvel sold 2,318 shares of the company’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $179.50, for a total value of $416,081.00. Following the completion of the sale, the chief accounting officer now owns 2,318 shares in the company, valued at approximately $416,081. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William P. Ainsworth sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $154.78, for a total transaction of $1,857,360.00. Following the completion of the sale, the insider now owns 76,501 shares of the company’s stock, valued at approximately $11,840,824.78. The disclosure for this sale can be found here. Insiders have sold 40,531 shares of company stock valued at $6,619,389 over the last ninety days. Insiders own 0.31% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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