Sumitomo Mitsui Trust Holdings Inc. Has $249.52 Million Stake in Caterpillar Inc. (CAT)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,000,773 shares of the industrial products company’s stock after selling 4,350 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.34% of Caterpillar worth $249,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAT. Quadrant Capital Group LLC increased its position in shares of Caterpillar by 10.6% during the second quarter. Quadrant Capital Group LLC now owns 1,339 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 128 shares in the last quarter. Baker Ellis Asset Management LLC bought a new stake in shares of Caterpillar during the second quarter worth $104,000. Motco increased its position in shares of Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 718 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Caterpillar during the first quarter worth $107,000. Finally, Acrospire Investment Management LLC increased its position in shares of Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 68.54% of the company’s stock.

CAT has been the subject of several research reports. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective for the company. in a research report on Monday, September 11th. UBS Group raised shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $140.00 in a research report on Monday, September 18th. BMO Capital Markets raised their target price on shares of Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, September 14th. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Goldman Sachs Group raised their target price on shares of Caterpillar from $143.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $140.14.

Shares of Caterpillar Inc. (CAT) traded down $0.84 during mid-day trading on Friday, reaching $157.58. 2,615,128 shares of the company’s stock were exchanged, compared to its average volume of 3,605,299. The company has a market cap of $94,249.39, a price-to-earnings ratio of 109.43, a PEG ratio of 2.38 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. Caterpillar Inc. has a fifty-two week low of $90.34 and a fifty-two week high of $158.65.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the business posted $0.85 EPS. Caterpillar’s quarterly revenue was up 24.6% on a year-over-year basis. research analysts anticipate that Caterpillar Inc. will post 6.45 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be given a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 1.98%. Caterpillar’s payout ratio is currently 216.67%.

In other Caterpillar news, insider Bradley M. Halverson sold 2,600 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $137.67, for a total transaction of $357,942.00. Following the sale, the insider now directly owns 5,214 shares of the company’s stock, valued at $717,811.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Bradley M. Halverson sold 17,210 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the sale, the chief financial officer now directly owns 7,814 shares in the company, valued at $1,073,096.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is owned by company insiders.

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About Caterpillar

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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