Ossiam Buys 6,153 Shares of Caterpillar Inc. $CAT

Ossiam raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2,189.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,434 shares of the industrial products company’s stock after purchasing an additional 6,153 shares during the period. Ossiam’s holdings in Caterpillar were worth $2,498,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC grew its stake in shares of Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares during the period. Norges Bank bought a new stake in Caterpillar during the 2nd quarter worth approximately $2,165,899,000. Assenagon Asset Management S.A. lifted its holdings in Caterpillar by 546.6% during the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Caterpillar by 425.2% in the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock worth $295,738,000 after purchasing an additional 616,739 shares during the period. Finally, Laurel Wealth Advisors LLC increased its stake in shares of Caterpillar by 36,586.2% in the second quarter. Laurel Wealth Advisors LLC now owns 433,631 shares of the industrial products company’s stock worth $168,340,000 after purchasing an additional 432,449 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAT. Citigroup lifted their target price on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Friday, October 31st. DA Davidson boosted their price objective on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Bank of America increased their target price on Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Barclays upped their price target on Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and an average target price of $610.32.

Caterpillar Stock Performance

NYSE CAT opened at $594.08 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.86. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $607.00. The business has a 50 day simple moving average of $547.27 and a two-hundred day simple moving average of $456.77. The stock has a market capitalization of $278.02 billion, a PE ratio of 30.50, a P/E/G ratio of 2.81 and a beta of 1.57.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the prior year, the firm earned $5.17 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were given a dividend of $1.51 per share. The ex-dividend date was Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 8,184 shares of Caterpillar stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider owned 41,512 shares in the company, valued at approximately $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the sale, the chairman directly owned 448,173 shares in the company, valued at $226,457,335.17. The trade was a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 79,061 shares of company stock worth $41,949,366. Insiders own 0.33% of the company’s stock.

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.