Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 9.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,357 shares of the industrial products company’s stock after selling 1,417 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Caterpillar were worth $5,615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC grew its stake in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares during the last quarter. First Affirmative Financial Network acquired a new stake in shares of Caterpillar during the third quarter worth approximately $204,000. Inspire Advisors LLC grew its holdings in Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Jackson Square Capital LLC raised its stake in shares of Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after purchasing an additional 4,182 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on 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 directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 8.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 16.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by insiders.

Caterpillar Price Performance

Shares of CAT opened at $384.08 on Friday. The firm has a market capitalization of $185.43 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. The stock’s fifty day moving average is $381.86 and its 200-day moving average is $354.07. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

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

Caterpillar Announces Dividend

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 given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CAT. Citigroup cut 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. Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Robert W. Baird boosted their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Four 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $365.33.

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.