Alliancebernstein L.P. Raises Holdings in Caterpillar Inc. (CAT)

Alliancebernstein L.P. raised its position in Caterpillar Inc. (NYSE:CAT) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 976,907 shares of the industrial products company’s stock after buying an additional 10,918 shares during the quarter. Alliancebernstein L.P.’s holdings in Caterpillar were worth $148,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAT. Valley National Advisers Inc. increased its holdings in shares of Caterpillar by 16.8% in the third quarter. Valley National Advisers Inc. now owns 2,776 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 399 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Caterpillar in the third quarter valued at approximately $488,000. Piedmont Investment Advisors Inc. increased its holdings in shares of Caterpillar by 28.1% in the third quarter. Piedmont Investment Advisors Inc. now owns 88,443 shares of the industrial products company’s stock valued at $13,487,000 after purchasing an additional 19,410 shares during the period. Providence Capital Advisors LLC acquired a new position in shares of Caterpillar in the third quarter valued at approximately $118,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Caterpillar by 160.4% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,734 shares of the industrial products company’s stock valued at $1,027,000 after purchasing an additional 4,148 shares during the period. Institutional investors own 66.53% of the company’s stock.

Shares of CAT stock opened at $125.98 on Tuesday. Caterpillar Inc. has a 1-year low of $112.06 and a 1-year high of $173.24. The firm has a market cap of $76.69 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 0.72 and a beta of 1.58. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 1.60.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.03. The company had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. Caterpillar’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 earnings per share. Equities analysts predict that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, October 22nd will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, October 19th. Caterpillar’s dividend payout ratio (DPR) is 50.00%.

A number of research firms have recently issued reports on CAT. Barclays reissued a “hold” rating on shares of Caterpillar in a report on Wednesday, October 24th. Royal Bank of Canada boosted their target price on Caterpillar to $166.00 and gave the company a “sector perform” rating in a report on Tuesday, July 31st. Macquarie set a $105.00 target price on Caterpillar and gave the company a “sell” rating in a report on Wednesday, October 24th. Morgan Stanley set a $169.00 target price on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, OTR Global lowered Caterpillar to a “positive” rating in a report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $158.55.

In other Caterpillar news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the sale, the insider now owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De bought 1,080 shares of the stock in a transaction on Friday, October 26th. The stock was purchased at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the acquisition, the insider now directly owns 11,310 shares of the company’s stock, valued at approximately $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.

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Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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