Caterpillar Inc. (NYSE:CAT) Shares Acquired by Hartford Financial Management Inc.

Hartford Financial Management Inc. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,399 shares of the industrial products company’s stock after purchasing an additional 121 shares during the quarter. Caterpillar comprises about 1.8% of Hartford Financial Management Inc.’s investment portfolio, making the stock its 8th largest position. Hartford Financial Management Inc.’s holdings in Caterpillar were worth $8,761,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Norden Group LLC bought a new stake in Caterpillar during the 1st quarter valued at $672,000. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar during the first quarter worth approximately $926,000. Mission Wealth Management LP grew its holdings in shares of Caterpillar by 40.5% during the 1st quarter. Mission Wealth Management LP now owns 6,207 shares of the industrial products company’s stock valued at $2,274,000 after acquiring an additional 1,789 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Caterpillar by 0.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 136,815 shares of the industrial products company’s stock valued at $50,133,000 after buying an additional 570 shares during the last quarter. Finally, Precision Wealth Strategies LLC acquired a new stake in Caterpillar in the first quarter valued at approximately $217,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on CAT shares. Morgan Stanley cut 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. Evercore ISI reduced their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. 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 report on Monday, October 14th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup cut their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $357.56.

Caterpillar Stock Down 0.8 %

NYSE:CAT opened at $376.20 on Friday. The stock’s fifty day simple moving average is $371.78 and its 200-day simple moving average is $351.32. The firm has a market capitalization of $182.42 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.86 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the company posted $5.52 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.50%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% 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.