Caterpillar Inc. (NYSE:CAT) Shares Sold by Boston Family Office LLC

Boston Family Office LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,502 shares of the industrial products company’s stock after selling 150 shares during the quarter. Boston Family Office LLC’s holdings in Caterpillar were worth $1,761,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAT. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar in the second quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar during the 2nd quarter valued at $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the third quarter valued at $36,000. Finally, POM Investment Strategies LLC boosted its position in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Truist Financial raised their price target 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 upped their price objective 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. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $365.33.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,774 shares of company stock valued at $8,233,034 over the last quarter. 0.29% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $397.49 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. The business has a 50 day moving average price of $386.81 and a 200 day moving average price of $356.00. The company has a market cap of $191.91 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.96 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company 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 company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.52 EPS. Research analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. Caterpillar’s dividend payout ratio is currently 26.15%.

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.