Acorn Wealth Advisors LLC Sells 119 Shares of Caterpillar Inc. (NYSE:CAT)

Acorn Wealth Advisors LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,156 shares of the industrial products company’s stock after selling 119 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Caterpillar were worth $1,625,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the 2nd quarter worth $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Fairscale Capital LLC bought a new position in shares of Caterpillar in the second quarter worth about $36,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar during the 3rd quarter worth about $36,000. Finally, POM Investment Strategies LLC grew its holdings in 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 buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE CAT traded up $6.96 during trading hours on Monday, reaching $404.45. 250,475 shares of the company’s stock were exchanged, compared to its average volume of 2,585,645. Caterpillar Inc. has a one year low of $246.01 and a one year high of $418.50. The stock has a market cap of $195.27 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average of $386.81 and a 200-day moving average of $356.00.

Caterpillar (NYSE:CAT) last announced its 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 return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the company posted $5.52 earnings per share. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $365.33.

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.