Jackson Square Capital LLC Buys 4,182 Shares of Caterpillar Inc. (NYSE:CAT)

Jackson Square Capital LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 33.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,581 shares of the industrial products company’s stock after purchasing an additional 4,182 shares during the quarter. Caterpillar comprises 1.6% of Jackson Square Capital LLC’s holdings, making the stock its 17th largest position. Jackson Square Capital LLC’s holdings in Caterpillar were worth $6,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC lifted its position in Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares in the last quarter. First Bank & Trust grew its position in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after buying an additional 27 shares during the period. Pacifica Partners Inc. grew its holdings in Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after purchasing an additional 28 shares during the period. Vanguard Capital Wealth Advisors raised its stake in Caterpillar by 0.8% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock worth $1,356,000 after buying an additional 28 shares during the period. Finally, MinichMacGregor Wealth Management LLC lifted its holdings in Caterpillar by 2.3% during the third quarter. MinichMacGregor Wealth Management LLC now owns 1,226 shares of the industrial products company’s stock worth $479,000 after acquiring an additional 28 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. UBS Group lifted their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Citigroup cut their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $358.19.

Caterpillar Stock Up 8.8 %

CAT stock opened at $416.97 on Thursday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $202.19 billion, a PE ratio of 19.33, a PEG ratio of 1.86 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $233.57 and a 1-year high of $418.30. The business’s 50 day simple moving average is $374.93 and its 200 day simple moving average is $352.11.

Caterpillar (NYSE:CAT) last released its quarterly 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). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.52 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 21.82 EPS for the current year.

Caterpillar Dividend Announcement

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 given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.35%. Caterpillar’s payout ratio is 26.15%.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the sale, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,792 shares of company stock worth $3,515,978. 0.29% of the stock is currently owned by company insiders.

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.