Caterpillar Inc. (NYSE:CAT) is Richard C. Young & CO. LTD.’s 7th Largest Position

Richard C. Young & CO. LTD. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 0.4% in the third quarter, Holdings Channel.com reports. The firm owned 56,791 shares of the industrial products company’s stock after acquiring an additional 232 shares during the quarter. Caterpillar comprises about 2.4% of Richard C. Young & CO. LTD.’s portfolio, making the stock its 7th largest position. Richard C. Young & CO. LTD.’s holdings in Caterpillar were worth $22,212,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CAT. Acadian Asset Management LLC grew its stake 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 during the period. Trustmark National Bank Trust Department grew its stake in Caterpillar by 18.8% during the first quarter. Trustmark National Bank Trust Department now owns 4,409 shares of the industrial products company’s stock worth $1,616,000 after buying an additional 699 shares during the period. UniSuper Management Pty Ltd grew its stake in Caterpillar by 141.6% during the first quarter. UniSuper Management Pty Ltd now owns 9,800 shares of the industrial products company’s stock worth $3,591,000 after buying an additional 5,744 shares during the period. Hilltop Partners LLC purchased a new position in shares of Caterpillar in the first quarter valued at $222,000. Finally, Capitolis Liquid Global Markets LLC purchased a new position in shares of Caterpillar in the first quarter valued at $34,811,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 0.8 %

CAT stock opened at $384.07 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The firm’s 50-day simple moving average is $381.86 and its 200 day simple moving average is $354.20. The stock has a market cap of $185.43 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10.

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

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.47%. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity

In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 23,749 shares of company stock worth $9,251,912. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup cut their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $365.33.

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.