Pinnacle West Asset Management Inc. Purchases 50 Shares of Caterpillar Inc. (NYSE:CAT)

Pinnacle West Asset Management Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,900 shares of the industrial products company’s stock after buying an additional 50 shares during the period. Caterpillar accounts for 1.4% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Pinnacle West Asset Management Inc.’s holdings in Caterpillar were worth $1,916,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Legal & General Group Plc increased its holdings in Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after buying an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares during the period. International Assets Investment Management LLC grew its holdings in Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Ameriprise Financial Inc. increased its position in Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after buying an additional 198,123 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after buying an additional 119,326 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

NYSE:CAT traded down $3.01 during midday trading on Thursday, hitting $382.72. The company had a trading volume of 504,765 shares, compared to its average volume of 2,621,007. The stock’s fifty day moving average price is $366.90 and its 200-day moving average price is $350.61. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $187.17 billion, a PE ratio of 17.30, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.55 EPS. As a group, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.47%. Caterpillar’s payout ratio is 25.46%.

Insider Activity

In related news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAT. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup lifted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America raised their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Evercore ISI cut their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $355.50.

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.