Cadent Capital Advisors LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Cadent Capital Advisors LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,748 shares of the industrial products company’s stock, valued at approximately $1,075,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AA Financial Advisors LLC raised its stake in shares of Caterpillar by 4.4% during the third quarter. AA Financial Advisors LLC now owns 3,596 shares of the industrial products company’s stock valued at $1,406,000 after acquiring an additional 151 shares during the last quarter. Alta Wealth Advisors LLC acquired a new stake in Caterpillar in the third quarter valued at $206,000. Embree Financial Group bought a new position in Caterpillar during the 3rd quarter worth $412,000. KFA Private Wealth Group LLC acquired a new position in Caterpillar during the 3rd quarter worth about $304,000. Finally, Key Client Fiduciary Advisors LLC increased its stake in shares of Caterpillar by 23.8% in the third quarter. Key Client Fiduciary Advisors LLC now owns 896 shares of the industrial products company’s stock valued at $350,000 after buying an additional 172 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James began coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI cut their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar Stock Performance

Shares of CAT stock opened at $393.86 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $363.86 and a two-hundred day simple moving average of $350.34. The firm has a market capitalization of $192.62 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period in the prior year, the firm posted $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated 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 sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.