Abel Hall LLC Takes $225,000 Position in Caterpillar Inc. (NYSE:CAT)

Abel Hall LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 575 shares of the industrial products company’s stock, valued at approximately $225,000.

Several other large investors have also recently modified their holdings of CAT. Smallwood Wealth Investment Management LLC lifted its position in shares of Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 26 shares in the last quarter. First Bank & Trust grew its stake in Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 27 shares in the last quarter. Washington Trust Bank increased its holdings in Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after acquiring an additional 27 shares during the period. Pacifica Partners Inc. grew its position in shares of Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after purchasing an additional 28 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its position in shares of Caterpillar by 0.8% in the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock worth $1,356,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the acquisition, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Citigroup reduced their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $372.19.

Caterpillar Stock Up 0.0 %

NYSE:CAT opened at $395.03 on Monday. The company has a market cap of $190.72 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $255.81 and a twelve month high of $418.50. 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 stock has a fifty day simple moving average of $392.84 and a 200-day simple moving average of $359.18.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during 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 quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $5.52 earnings per share. Analysts anticipate that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

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.