Obsidian Personal Planning Solutions LLC Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Obsidian Personal Planning Solutions LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,548 shares of the industrial products company’s stock after selling 172 shares during the quarter. Obsidian Personal Planning Solutions LLC’s holdings in Caterpillar were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. Legal & General Group Plc boosted its stake in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Caterpillar by 5.7% during the second 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 in the last quarter. International Assets Investment Management LLC raised its holdings in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after purchasing an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in Caterpillar by 6.3% in 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 in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in 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. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Four 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 presently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Price Performance

NYSE:CAT opened at $384.07 on Friday. The firm has a market cap of $185.43 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.90 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. The company’s 50-day moving average is $381.86 and its two-hundred day moving average is $354.20. Caterpillar Inc. has a 12-month low of $241.81 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.52 EPS. Research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The company 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 $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 16.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased 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 owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 23,749 shares of company stock valued at $9,251,912 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

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.