Moloney Securities Asset Management LLC Cuts Position in Caterpillar Inc. (NYSE:CAT)

Moloney Securities Asset Management LLC lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 23.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 720 shares of the industrial products company’s stock after selling 225 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Caterpillar were worth $282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FSM Wealth Advisors LLC grew its holdings in Caterpillar by 10.1% in the third quarter. FSM Wealth Advisors LLC now owns 663 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 61 shares during the period. Legacy CG LLC lifted its stake in shares of Caterpillar by 4.8% in the third quarter. Legacy CG LLC now owns 16,344 shares of the industrial products company’s stock worth $6,392,000 after buying an additional 755 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of Caterpillar by 3.4% in the third quarter. Hazlett Burt & Watson Inc. now owns 3,160 shares of the industrial products company’s stock worth $1,239,000 after buying an additional 105 shares in the last quarter. PDS Planning Inc lifted its stake in shares of Caterpillar by 7.1% in the third quarter. PDS Planning Inc now owns 2,402 shares of the industrial products company’s stock worth $940,000 after buying an additional 159 shares in the last quarter. Finally, TKG Advisors LLC lifted its stake in shares of Caterpillar by 78.2% in the third quarter. TKG Advisors LLC now owns 6,304 shares of the industrial products company’s stock worth $2,466,000 after buying an additional 2,767 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

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 transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, 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 filing with the SEC, which is available at the SEC website. In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,792 shares of company stock worth $3,515,978 over the last quarter. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAT. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Citigroup dropped their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $358.19.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $416.97 on Thursday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 1-year low of $233.57 and a 1-year high of $418.30. The company has a market capitalization of $202.19 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.86 and a beta of 1.10. The firm’s 50 day simple moving average is $374.93 and its two-hundred day simple moving average is $352.11.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.52 EPS. Research analysts expect that Caterpillar Inc. will post 21.82 EPS 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 given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

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.