Pinnacle Financial Partners Inc Has $7.23 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Pinnacle Financial Partners Inc cut its position in Caterpillar Inc. (NYSE:CAT) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,495 shares of the industrial products company’s stock after selling 265 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Caterpillar were worth $7,234,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in Caterpillar by 39,534.0% during 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 in the last quarter. Canada Pension Plan Investment Board lifted its position 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 buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd grew its holdings 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 worth $91,606,000 after acquiring an additional 266,969 shares during the last quarter. Swedbank AB bought a new position in shares of Caterpillar in the first quarter worth about $97,042,000. Finally, Capital International Investors lifted its position 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 worth $179,060,000 after purchasing an additional 244,253 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock valued at $9,251,912 in the last three months. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Bank of America boosted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and upped their price target for the company from $321.00 to $365.00 in a research note on Wednesday. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Citigroup cut their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $365.33.

Caterpillar Price Performance

NYSE CAT opened at $387.16 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock has a market cap of $186.92 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.94 and a beta of 1.10. The business has a 50 day simple moving average of $378.67 and a 200 day simple moving average of $353.36. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.52 earnings per share. Analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s payout ratio is currently 26.15%.

Caterpillar Profile

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.