Sheaff Brock Investment Advisors LLC Acquires 34 Shares of Caterpillar Inc. (NYSE:CAT)

Sheaff Brock Investment Advisors LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,238 shares of the industrial products company’s stock after purchasing an additional 34 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Caterpillar were worth $2,831,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CAT. Legal & General Group Plc boosted its stake in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares during the period. International Assets Investment Management LLC boosted its position in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the period. Ameriprise Financial Inc. boosted its position in Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Caterpillar by 6.3% in the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $386.30 on Friday. Caterpillar Inc. has a 1 year low of $241.81 and a 1 year high of $418.50. The company’s 50 day simple moving average is $379.68 and its 200-day simple moving average is $353.59. The company has a market capitalization of $186.51 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the business earned $5.52 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s dividend payout ratio is presently 26.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CAT shares. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $321.00 to $365.00 in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $365.33.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 3.65 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,347,825.20. The trade was a 16.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is currently owned by corporate insiders.

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.