Welch Group LLC Purchases 451 Shares of Caterpillar Inc. (NYSE:CAT)

Welch Group LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 1.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 36,111 shares of the industrial products company’s stock after purchasing an additional 451 shares during the period. Welch Group LLC’s holdings in Caterpillar were worth $14,124,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fairman Group LLC purchased a new position in Caterpillar in the first quarter valued at about $29,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new stake in Caterpillar in the 2nd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC lifted its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup raised their target price on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $355.50.

Insider Activity

In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT traded up $4.33 during midday trading on Monday, reaching $390.30. The company had a trading volume of 166,842 shares, compared to its average volume of 2,610,772. 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 business has a 50-day moving average of $368.57 and a two-hundred day moving average of $350.66. The company has a market cap of $190.88 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60.

Caterpillar (NYSE:CAT) last released its earnings results 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. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the business posted $5.55 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business 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. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

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.