Heartland Bank & Trust Co Purchases New Position in Caterpillar Inc. (NYSE:CAT)

Heartland Bank & Trust Co bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,745 shares of the industrial products company’s stock, valued at approximately $1,074,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar in the 2nd quarter valued at $28,000. Fairman Group LLC acquired a new stake in Caterpillar during the 1st quarter worth $29,000. Fairscale Capital LLC purchased a new position in Caterpillar during the 2nd quarter worth $36,000. Finally, POM Investment Strategies LLC raised its holdings in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s 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 of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Johnson bought 100 shares of the firm’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 completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CAT shares. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report 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. UBS Group upped their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $355.50.

Caterpillar Stock Down 0.7 %

Shares of NYSE CAT opened at $385.59 on Thursday. The firm’s 50-day moving average is $366.90 and its two-hundred day moving average is $350.61. The company has a market capitalization of $188.57 billion, a PE ratio of 17.41, 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. 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 (NYSE:CAT) last announced its 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 firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the prior year, the firm earned $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

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.