Retirement Systems of Alabama Has $91.25 Million Stock Holdings in Caterpillar Inc. $CAT

Retirement Systems of Alabama trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,040 shares of the industrial products company’s stock after selling 4,164 shares during the period. Retirement Systems of Alabama’s holdings in Caterpillar were worth $91,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CAT. Mid American Wealth Advisory Group Inc. bought a new position in Caterpillar during the second quarter valued at about $28,000. Compass Financial Services Inc increased its stake in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new position in Caterpillar during the second quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in Caterpillar during the first quarter valued at about $33,000. Finally, Harbor Asset Planning Inc. bought a new position in Caterpillar during the second quarter valued at about $34,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 55,985 shares of company stock worth $25,559,300. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 11.9%

Shares of CAT stock opened at $586.77 on Thursday. The firm has a 50 day moving average price of $472.25 and a two-hundred day moving average price of $405.20. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $274.89 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period last year, the firm earned $5.17 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAT. Oppenheimer lifted their price objective on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. JPMorgan Chase & Co. increased their price target on Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada assumed coverage on shares of Caterpillar in a research report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.19.

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.