State Farm Mutual Automobile Insurance Co. Has $9.99 Billion Position in Caterpillar Inc. $CAT

State Farm Mutual Automobile Insurance Co. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,431,190 shares of the industrial products company’s stock after selling 87,214 shares during the period. Caterpillar accounts for approximately 7.8% of State Farm Mutual Automobile Insurance Co.’s investment portfolio, making the stock its 2nd biggest position. State Farm Mutual Automobile Insurance Co. owned approximately 3.72% of Caterpillar worth $9,985,806,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Invst LLC raised its position in Caterpillar by 1.9% during the 4th quarter. Invst LLC now owns 753 shares of the industrial products company’s stock worth $431,000 after purchasing an additional 14 shares during the last quarter. Plancorp LLC raised its position in Caterpillar by 0.5% during the 4th quarter. Plancorp LLC now owns 2,777 shares of the industrial products company’s stock worth $1,591,000 after purchasing an additional 15 shares during the last quarter. BlueStem Wealth Partners LLC raised its position in Caterpillar by 1.3% during the 4th quarter. BlueStem Wealth Partners LLC now owns 1,192 shares of the industrial products company’s stock worth $683,000 after purchasing an additional 15 shares during the last quarter. KDT Advisors LLC raised its position in Caterpillar by 2.3% during the 4th quarter. KDT Advisors LLC now owns 657 shares of the industrial products company’s stock worth $376,000 after purchasing an additional 15 shares during the last quarter. Finally, CFO4Life Group LLC raised its position in Caterpillar by 2.5% during the 4th quarter. CFO4Life Group LLC now owns 626 shares of the industrial products company’s stock worth $359,000 after purchasing an additional 15 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

CAT stock opened at $915.27 on Tuesday. The stock has a 50-day moving average price of $836.25 and a 200-day moving average price of $718.16. Caterpillar Inc. has a 1-year low of $353.92 and a 1-year high of $946.83. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The firm has a market cap of $421.57 billion, a PE ratio of 45.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.59.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same period last year, the company posted $4.25 EPS. The business’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 24.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were paid a $1.51 dividend. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar’s dividend payout ratio (DPR) is currently 30.06%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAT. Barclays raised their target price on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Caterpillar from $860.00 to $1,125.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Daiwa Securities Group raised their target price on Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Evercore reissued an “outperform” rating and issued a $1,103.00 price objective on shares of Caterpillar in a research report on Monday, May 11th. Finally, Citigroup lifted their price objective on Caterpillar from $905.00 to $1,020.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $933.27.

Insider Buying and Selling

In other news, CAO William E. Schaupp sold 360 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total value of $326,160.00. Following the completion of the sale, the chief accounting officer directly owned 530 shares in the company, valued at $480,180. This trade represents a 40.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 16,283 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares of the company’s stock, valued at approximately $42,210,388.80. This represents a 26.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,773 shares of company stock worth $87,642,635 over the last 90 days. 0.33% of the stock is owned by company insiders.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.