M&G Plc Has $16.81 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

M&G Plc raised its stake in Caterpillar Inc. (NYSE:CAT) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,988 shares of the industrial products company’s stock after purchasing an additional 347 shares during the period. M&G Plc’s holdings in Caterpillar were worth $16,808,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. D.B. Root & Company LLC lifted its position in Caterpillar by 8.8% during the third quarter. D.B. Root & Company LLC now owns 944 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 76 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Caterpillar by 11.5% during the third quarter. Concurrent Investment Advisors LLC now owns 21,826 shares of the industrial products company’s stock worth $8,537,000 after purchasing an additional 2,244 shares during the period. Foster & Motley Inc. lifted its holdings in Caterpillar by 0.9% during the 3rd quarter. Foster & Motley Inc. now owns 16,659 shares of the industrial products company’s stock worth $6,516,000 after purchasing an additional 145 shares during the last quarter. Radnor Capital Management LLC bought a new stake in Caterpillar in the 3rd quarter valued at $3,271,000. Finally, Financial Security Advisor Inc. acquired a new position in Caterpillar in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 2.1 %

Shares of NYSE CAT opened at $408.21 on Friday. The stock has a market cap of $197.94 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $233.82 and a 52-week high of $418.50. The firm has a 50 day moving average price of $376.06 and a two-hundred day moving average price of $352.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm posted $5.52 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 21.77 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.38%. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s 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 completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 11,092 shares of company stock valued at $4,059,378 over the last 90 days. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. UBS Group increased 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. Citigroup cut their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Truist Financial raised their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $358.19.

About Caterpillar

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.