Wellington Management Group LLP Has $20.20 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Wellington Management Group LLP lowered its stake in Caterpillar Inc. (NYSE:CAT) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,654 shares of the industrial products company’s stock after selling 13,847 shares during the quarter. Wellington Management Group LLP’s holdings in Caterpillar were worth $20,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Smallwood Wealth Investment Management LLC increased its position in shares of Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 26 shares during the last quarter. First Bank & Trust increased its position in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 27 shares during the last quarter. Washington Trust Bank increased its position in shares of Caterpillar by 1.2% in the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 27 shares during the last quarter. Pacifica Partners Inc. increased its position in Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors increased its position in Caterpillar by 0.8% during the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock worth $1,356,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CAT shares. UBS Group boosted their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Citigroup boosted their price objective on Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Truist Financial boosted their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $374.69.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the sale, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,868 shares of company stock worth $9,679,489 over the last three months. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Down 0.1 %

Shares of NYSE:CAT opened at $380.47 on Friday. The company has a fifty day moving average of $392.62 and a 200-day moving average of $360.15. The company has a market capitalization of $183.69 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a 52-week low of $270.55 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $5.52 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

About Caterpillar

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.