Associated Banc Corp Sells 1,583 Shares of Caterpillar Inc. (NYSE:CAT)

Associated Banc Corp reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,727 shares of the industrial products company’s stock after selling 1,583 shares during the quarter. Associated Banc Corp’s holdings in Caterpillar were worth $22,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Caterpillar by 39,534.0% during the 3rd 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 purchasing an additional 2,131,276 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after buying an additional 266,969 shares during the period. Swedbank AB bought a new position in Caterpillar in the 1st quarter valued at about $97,042,000. Fisher Asset Management LLC lifted its holdings in Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Caterpillar by 104.6% during the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after buying an additional 200,134 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 20,774 shares of company stock worth $8,233,034. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of a number of analyst reports. Citigroup reduced their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. UBS Group upped their price objective 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, Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Trading Up 1.9 %

CAT traded up $7.62 during trading on Monday, reaching $405.11. 347,447 shares of the stock traded hands, compared to its average volume of 2,585,329. The stock’s 50-day moving average is $386.81 and its 200 day moving average is $356.00. Caterpillar Inc. has a 12 month low of $246.01 and a 12 month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $195.59 billion, a PE ratio of 18.43, a P/E/G ratio of 1.96 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued 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). The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.52 earnings per share. Equities analysts anticipate that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 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.