Caterpillar Inc. (NYSE:CAT) Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.8% in the third quarter, Holdings Channel.com reports. The firm owned 2,970 shares of the industrial products company’s stock after selling 253 shares during the period. Caterpillar comprises 1.0% of 1858 Wealth Management LLC’s portfolio, making the stock its 28th largest holding. 1858 Wealth Management LLC’s holdings in Caterpillar were worth $1,161,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc grew its stake in Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after acquiring an additional 198,123 shares in the last quarter. Capital Research Global Investors lifted its stake in Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares during the last quarter. Finally, Capital Wealth Planning LLC increased its stake in Caterpillar by 6.4% during the second quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock valued at $460,162,000 after purchasing an additional 83,571 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup increased their price target on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $355.50.

Caterpillar Price Performance

CAT stock traded down $1.55 during trading hours on Monday, hitting $390.90. 613,651 shares of the stock traded hands, compared to its average volume of 2,633,563. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a 50-day simple moving average of $363.86 and a 200 day simple moving average of $350.16. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60. The company has a market cap of $191.17 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the previous year, the company posted $5.55 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders 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 dividend yield of 1.44%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the company’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 completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price 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 of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.