ING Groep NV Sells 202,355 Shares of Caterpillar Inc. (NYSE:CAT)

ING Groep NV reduced its position in Caterpillar Inc. (NYSE:CAT) by 67.8% in the third quarter, HoldingsChannel.com reports. The firm owned 96,128 shares of the industrial products company’s stock after selling 202,355 shares during the period. ING Groep NV’s holdings in Caterpillar were worth $37,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. International Assets Investment Management LLC increased its stake in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Caterpillar by 306.9% in 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 purchasing an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares during the period. Swedbank AB purchased a new stake in Caterpillar during the 1st quarter valued at approximately $97,042,000. Finally, Capital International Investors raised 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 valued at $179,060,000 after buying an additional 244,253 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CAT shares. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Bank of America increased 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. Finally, Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $365.33.

Insider Buying and Selling at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This trade represents a 0.00 % decrease 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. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the transaction, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,749 shares of company stock valued at $9,251,912. Company insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 0.4 %

Shares of NYSE CAT traded up $1.66 during mid-day trading on Thursday, reaching $388.73. The company had a trading volume of 432,988 shares, compared to its average volume of 2,611,410. The stock has a market cap of $187.68 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The business’s 50-day moving average is $379.68 and its 200-day moving average is $353.59.

Caterpillar (NYSE:CAT) last released 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the business earned $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is 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.