Caterpillar Inc. (CAT) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 162,411 shares of the industrial products company’s stock after selling 1,365 shares during the quarter. Texas Permanent School Fund’s holdings in Caterpillar were worth $25,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Beach Investment Management LLC. purchased a new stake in Caterpillar in the 2nd quarter worth approximately $231,000. Nippon Life Global Investors Americas Inc. purchased a new position in shares of Caterpillar in the 2nd quarter valued at approximately $5,827,000. Bingham Osborn & Scarborough LLC lifted its stake in shares of Caterpillar by 1.3% in the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 2,327 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 30 shares during the period. Pinnacle Financial Partners Inc. lifted its stake in shares of Caterpillar by 89.9% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 6,462 shares of the industrial products company’s stock valued at $695,000 after purchasing an additional 3,059 shares during the period. Finally, S. R. Schill & Associates lifted its stake in shares of Caterpillar by 84.2% in the 2nd quarter. S. R. Schill & Associates now owns 4,059 shares of the industrial products company’s stock valued at $436,000 after purchasing an additional 1,855 shares during the period. Institutional investors and hedge funds own 68.62% of the company’s stock.

A number of research analysts have recently commented on CAT shares. BMO Capital Markets raised their target price on Caterpillar from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Vetr cut Caterpillar from a “hold” rating to a “sell” rating and set a $137.72 target price for the company. in a research note on Thursday, December 7th. Citigroup raised their target price on Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. Goldman Sachs Group raised their target price on Caterpillar from $143.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Finally, OTR Global cut Caterpillar to a “positive” rating in a research note on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. Caterpillar currently has a consensus rating of “Buy” and a consensus price target of $160.21.

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

Shares of Caterpillar Inc. (NYSE:CAT) traded down $1.49 during trading hours on Tuesday, reaching $169.40. The company’s stock had a trading volume of 2,849,564 shares, compared to its average volume of 5,030,707. The stock has a market capitalization of $100,940.00, a PE ratio of 117.64, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29. Caterpillar Inc. has a 1-year low of $90.34 and a 1-year high of $173.24. 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 (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. sell-side analysts predict that Caterpillar Inc. will post 6.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is 216.67%.

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About Caterpillar

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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