MBE Wealth Management LLC Purchases New Shares in Caterpillar Inc. (NYSE:CAT)

MBE Wealth Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the third quarter, HoldingsChannel.com reports. The firm purchased 526 shares of the industrial products company’s stock, valued at approximately $206,000.

A number of other large investors have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC grew its holdings in Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 26 shares in the last quarter. Pacifica Partners Inc. grew its holdings in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 28 shares in the last quarter. Souders Financial Advisors grew its holdings in Caterpillar by 0.8% during the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock worth $1,218,000 after acquiring an additional 29 shares in the last quarter. Davis Investment Partners LLC grew its holdings in Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 30 shares in the last quarter. Finally, Southland Equity Partners LLC grew its holdings in Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of CAT traded down $3.94 during mid-day trading on Monday, hitting $389.92. The company’s stock had a trading volume of 498,804 shares, compared to its average volume of 2,633,106. The firm has a 50-day moving average price of $363.86 and a 200 day moving average price of $350.16. The stock has a market capitalization of $190.69 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.55 EPS. On average, research analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio is currently 25.46%.

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Citigroup raised their price target on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $355.50.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost 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 represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Caterpillar 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.