Allen Capital Group LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Allen Capital Group LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 4,221 shares of the industrial products company’s stock after acquiring an additional 59 shares during the quarter. Allen Capital Group LLC’s holdings in Caterpillar were worth $1,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC increased its holdings in Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares during the last quarter. First Bank & Trust grew its holdings 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 purchasing an additional 27 shares during the last quarter. Washington Trust Bank grew its holdings in Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 27 shares during the last quarter. Pacifica Partners Inc. grew its holdings in Caterpillar by 1.6% during the third 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 during the last quarter. Finally, Vanguard Capital Wealth Advisors grew its holdings in Caterpillar by 0.8% during the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 2.3 %

Shares of CAT stock opened at $390.26 on Friday. The stock has a market cap of $188.42 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The stock has a fifty day moving average price of $385.77 and a 200 day moving average price of $355.46. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $5.52 earnings per share. Analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.45%. Caterpillar’s payout ratio is presently 26.15%.

Insider Buying and Selling at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated 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 transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated Friday, November 1st. The shares were 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 $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Truist Financial increased 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. Barclays raised their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, 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 note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $365.33.

About Caterpillar

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.