Rockefeller Capital Management L.P. Trims Stock Position in Caterpillar Inc. (NYSE:CAT)

Rockefeller Capital Management L.P. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,723 shares of the industrial products company’s stock after selling 16,859 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Caterpillar were worth $105,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the second quarter valued at about $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new stake in Caterpillar in the second quarter valued at approximately $36,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the third quarter worth $36,000. Finally, POM Investment Strategies LLC boosted its position in shares of Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.0 %

NYSE:CAT opened at $403.70 on Friday. The company has a market capitalization of $194.91 billion, a PE ratio of 18.72, a P/E/G ratio of 1.99 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $246.01 and a 52-week high of $418.50. The stock’s 50 day moving average price is $390.62 and its 200 day moving average price is $357.40. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its 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 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%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.52 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared 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. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company 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 lifted their target price for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, UBS Group boosted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $365.33.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on 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 directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,589 shares of company stock worth $7,113,953 in the last quarter. Company insiders own 0.29% of the company’s stock.

Caterpillar Company 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.