Western Pacific Wealth Management LP Purchases Shares of 211 Caterpillar Inc. (NYSE:CAT)

Western Pacific Wealth Management LP acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 211 shares of the industrial products company’s stock, valued at approximately $83,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the period. First Affirmative Financial Network acquired a new position in shares of Caterpillar in the 3rd quarter worth approximately $204,000. Inspire Advisors LLC lifted its position 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 buying an additional 1,694 shares during the period. Finally, Natixis Advisors LLC boosted its stake in Caterpillar by 3.5% in the 2nd 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 in the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Evercore ISI cut their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Robert W. Baird boosted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Truist Financial raised 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. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Citigroup cut 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Hold” and an average target price of $358.19.

Caterpillar Stock Down 2.1 %

Shares of NYSE CAT opened at $408.21 on Friday. The stock has a market cap of $197.94 billion, a P/E ratio of 18.92, a P/E/G 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 0.86 and a current ratio of 1.40. Caterpillar Inc. has a 52-week low of $233.82 and a 52-week high of $418.50. The firm has a 50 day moving average price of $376.06 and a 200 day moving average price of $352.50.

Caterpillar (NYSE:CAT) last released 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 net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the firm posted $5.52 EPS. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 21.77 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.38%. Caterpillar’s payout ratio is 26.15%.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated 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 sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,092 shares of company stock worth $4,059,378. 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.