Caterpillar Inc. (NYSE:CAT) Position Increased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its position in Caterpillar Inc. (NYSE:CAT) by 43.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,902 shares of the industrial products company’s stock after purchasing an additional 4,181 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Caterpillar were worth $5,437,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar in the second quarter worth about $28,000. Fairscale Capital LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth about $36,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar during the 3rd quarter valued at about $36,000. Finally, POM Investment Strategies LLC raised its stake in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 2.3 %

Shares of CAT stock opened at $390.26 on Friday. The stock has a market cap of $188.42 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a fifty day moving average price of $384.76 and a 200 day moving average price of $355.22. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.52 EPS. Analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Citigroup cut their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $365.33.

Insider Buying and Selling at Caterpillar

In other news, 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 value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 8.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,774 shares of company stock worth $8,233,034 over the last three months. Company insiders own 0.29% of the company’s stock.

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.