Stevens Capital Management LP Takes $4.46 Million Position in Caterpillar Inc. (NYSE:CAT)

Stevens Capital Management LP purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,403 shares of the industrial products company’s stock, valued at approximately $4,460,000. Caterpillar accounts for 0.6% of Stevens Capital Management LP’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position 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 worth $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Altshuler Shaham Ltd lifted its position in 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 in the last quarter. Fisher Asset Management LLC lifted its position 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 buying an additional 205,012 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Caterpillar by 34.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after buying an additional 200,210 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Caterpillar by 104.6% during the 2nd 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. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on CAT shares. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $399.51 on Thursday. The company’s 50 day moving average price is $392.68 and its two-hundred day moving average price is $358.68. Caterpillar Inc. has a 12-month low of $253.78 and a 12-month high of $418.50. The firm has a market cap of $192.88 billion, a PE ratio of 18.52, a PEG ratio of 1.97 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its 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 business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the company earned $5.52 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.41%. Caterpillar’s dividend payout ratio is 26.15%.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares of the company’s stock, valued at $13,714,323.35. This represents a 15.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,868 shares of company stock worth $9,679,489. Corporate insiders own 0.29% of the company’s stock.

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.