Caterpillar Inc. (NYSE:CAT) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,901 shares of the industrial products company’s stock after selling 243 shares during the period. Mutual Advisors LLC’s holdings in Caterpillar were worth $7,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the second quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the second quarter valued at approximately $36,000. POM Investment Strategies LLC lifted its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares during the last quarter. Finally, TruNorth Capital Management LLC increased its position in shares of Caterpillar by 215.4% in the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 84 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 0.7 %

CAT stock opened at $387.77 on Wednesday. The stock has a market capitalization of $189.64 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a fifty day moving average of $370.38 and a 200-day moving average of $350.94. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a one year low of $223.76 and a one 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. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.55 EPS. As a group, analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several recent analyst reports. Bank of America lifted their price objective 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. Evercore ISI decreased their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar Company 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.