Caterpillar Inc. (NYSE:CAT) Shares Sold by World Equity Group Inc.

World Equity Group Inc. lessened its stake in Caterpillar Inc. (NYSE:CAT) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,115 shares of the industrial products company’s stock after selling 122 shares during the quarter. World Equity Group Inc.’s holdings in Caterpillar were worth $1,609,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after buying an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC grew its position in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares during the period. First Affirmative Financial Network purchased a new position in shares of Caterpillar in the 3rd quarter worth about $204,000. Inspire Advisors LLC grew its holdings in shares of Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after purchasing an additional 1,694 shares during the period. Finally, Natixis Advisors LLC raised its holdings in Caterpillar by 3.5% in the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after buying an additional 9,321 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE CAT traded up $1.00 on Monday, reaching $380.63. The company’s stock had a trading volume of 223,867 shares, compared to its average volume of 2,612,972. The firm’s 50 day moving average is $372.40 and its two-hundred day moving average is $351.32. The stock has a market cap of $184.57 billion, a PE ratio of 17.60, a PEG ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.78 and a current ratio of 1.40. Caterpillar Inc. has a twelve month low of $233.57 and a twelve month high of $403.60.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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 the consensus estimate 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 in the prior year, the company posted $5.52 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.82 EPS 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 given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. Caterpillar’s payout ratio is presently 26.15%.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of research reports. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Citigroup lowered their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday. Finally, UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $357.56.

Insider Activity

In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by 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.