2,045 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Copley Financial Group Inc.

Copley Financial Group Inc. bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,045 shares of the industrial products company’s stock, valued at approximately $800,000. Caterpillar comprises 0.7% of Copley Financial Group Inc.’s portfolio, making the stock its 19th largest position.

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

Insider Transactions at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,868 shares of company stock worth $9,679,489 over the last ninety days. 0.29% of the stock is owned by insiders.

Caterpillar Price Performance

Caterpillar stock traded up $1.67 during mid-day trading on Friday, reaching $382.45. The company had a trading volume of 210,265 shares, compared to its average volume of 2,545,364. The business has a fifty day simple moving average of $392.83 and a 200 day simple moving average of $360.00. The company has a market cap of $184.65 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.92 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. Caterpillar Inc. has a fifty-two week low of $270.55 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT) last released 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the firm posted $5.52 earnings per share. The business’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 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. Caterpillar’s payout ratio is 26.15%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAT. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup upped their price target on shares of Caterpillar from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Monday. UBS Group raised their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $374.69.

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.