State of New Jersey Common Pension Fund D Has $70.93 Million Stake in Caterpillar Inc. (NYSE:CAT)

State of New Jersey Common Pension Fund D cut its position in Caterpillar Inc. (NYSE:CAT) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,339 shares of the industrial products company’s stock after selling 2,872 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Caterpillar were worth $70,925,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $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 shares of Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after acquiring an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares in the last quarter. Swedbank AB acquired a new position in Caterpillar during the 1st quarter worth approximately $97,042,000. Finally, Capital International Investors lifted its stake in Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 3.6 %

CAT stock traded down $14.84 during mid-day trading on Friday, reaching $393.37. The company’s stock had a trading volume of 3,345,862 shares, compared to its average volume of 2,292,855. The company has a market cap of $190.75 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $233.82 and a 12 month high of $418.50. The business’s 50 day moving average price is $376.80 and its 200 day moving average price is $352.75. 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 (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (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 company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the company earned $5.52 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insiders Place Their Bets

In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,749 shares of company stock worth $9,251,912. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Morgan Stanley cut 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 report on Monday, October 14th. UBS Group lifted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, Robert W. Baird upped their price target 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $362.40.

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.