Cortland Associates Inc. MO Has $995,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

Cortland Associates Inc. MO boosted its position in Caterpillar Inc. (NYSE:CAT) by 89.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,544 shares of the industrial products company’s stock after buying an additional 1,198 shares during the period. Cortland Associates Inc. MO’s holdings in Caterpillar were worth $995,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after buying an additional 165,358 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of 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 acquiring an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after acquiring an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on CAT shares. JPMorgan Chase & Co. lifted their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Citigroup reduced their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Barclays increased their price objective 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. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and an average price target of $357.56.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $379.63 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.78. The firm has a market capitalization of $184.08 billion, a P/E ratio of 17.60, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a one year low of $232.88 and a one year high of $403.60. The business has a fifty day moving average price of $372.40 and a 200-day moving average price of $351.32.

Caterpillar (NYSE:CAT) last posted its 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 firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the company posted $5.52 EPS. The business’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.82 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.49%. 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.