Mizuho Securities Co. Ltd. Purchases New Position in Caterpillar Inc. (NYSE:CAT)

Mizuho Securities Co. Ltd. bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,930 shares of the industrial products company’s stock, valued at approximately $755,000. Caterpillar accounts for 1.9% of Mizuho Securities Co. Ltd.’s investment portfolio, making the stock its 15th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the second quarter valued at $28,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar in the second quarter valued at $36,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the third quarter valued at $36,000. Finally, POM Investment Strategies LLC raised its stake in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $4.47 during midday trading on Wednesday, hitting $388.54. 671,397 shares of the company traded hands, compared to its average volume of 2,615,462. The stock has a market cap of $187.59 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.96 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm’s fifty day moving average price is $378.67 and its 200-day moving average price is $353.36. Caterpillar Inc. has a 12 month low of $241.81 and a 12 month high of $418.50.

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 business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the firm earned $5.52 earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Insiders Place Their Bets

In other news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock valued at $9,251,912 in the last ninety days. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. UBS Group increased their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Truist Financial raised their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup lowered their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $365.33.

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.