Sumitomo Mitsui DS Asset Management Company Ltd Lowers Position in Caterpillar Inc. (NYSE:CAT)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Caterpillar Inc. (NYSE:CAT) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,667 shares of the industrial products company’s stock after selling 4,259 shares during the period. Caterpillar comprises about 1.0% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 16th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Caterpillar were worth $99,275,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after acquiring an additional 10,212 shares in the last quarter. West Wealth Group LLC purchased a new position in Caterpillar during the fourth quarter worth approximately $230,000. Citizens Financial Group Inc. RI increased its position in shares of Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after buying an additional 4,181 shares in the last quarter. Cadinha & Co. LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $11,084,000. Finally, First Affirmative Financial Network acquired a new stake in Caterpillar in the 3rd quarter valued at $204,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now directly owns 33,565 shares of the company’s stock, valued at $13,714,323.35. The trade was a 15.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CAT. Bank of America reduced their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Robert W. Baird raised their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $385.00 in a research note on Monday. JPMorgan Chase & Co. decreased their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $383.13.

Caterpillar Stock Up 1.9 %

Shares of NYSE CAT opened at $365.54 on Friday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a market capitalization of $176.48 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.95 and a beta of 1.12. The company has a 50 day simple moving average of $378.20 and a 200-day simple moving average of $371.22. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities research analysts predict that Caterpillar Inc. will post 21.45 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

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.