Geode Capital Management LLC Has $4.06 Billion Holdings in Caterpillar Inc. $CAT

Geode Capital Management LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,467,024 shares of the industrial products company’s stock after selling 49,594 shares during the period. Geode Capital Management LLC owned approximately 2.22% of Caterpillar worth $4,056,771,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CAT. Trivium Point Advisory LLC increased its position in shares of Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock worth $26,037,000 after buying an additional 7,125 shares during the last quarter. Palmer Knight Co acquired a new stake in shares of Caterpillar during the second quarter worth approximately $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after acquiring an additional 1,440 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Caterpillar in the 1st quarter worth approximately $427,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. UBS Group increased their price objective on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Robert W. Baird raised their price objective on shares of Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Barclays upped their target price on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $596.59.

Caterpillar Trading Down 0.5%

Shares of NYSE CAT opened at $567.82 on Wednesday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The firm has a market capitalization of $265.73 billion, a P/E ratio of 29.15, a P/E/G ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The company’s 50 day simple moving average is $497.84 and its 200 day simple moving average is $423.30.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.17 EPS. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Insider Activity

In related news, insider Lange Bob De sold 14,638 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares in the company, valued at $45,106,333.24. This represents a 15.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 69,662 shares of company stock valued at $33,575,140. 0.33% of the stock is currently owned by company insiders.

Caterpillar Company 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.