Caterpillar Inc. (NYSE:CAT) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 7.5% in the 3rd quarter, Holdings Channel reports. The firm owned 3,214 shares of the industrial products company’s stock after purchasing an additional 225 shares during the period. Avestar Capital LLC’s holdings in Caterpillar were worth $1,257,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the second quarter worth about $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the second quarter valued at approximately $36,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the third quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC lifted its holdings in Caterpillar by 2,160.0% during the 2nd 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 in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.2 %

Caterpillar stock opened at $406.33 on Tuesday. The company has a market capitalization of $196.18 billion, a P/E ratio of 18.81, a PEG ratio of 1.96 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a fifty-two week low of $246.01 and a fifty-two week high of $418.50. The stock has a 50-day simple moving average of $387.97 and a 200-day simple moving average of $356.38.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share 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 analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.52 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were issued a $1.41 dividend. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.39%. Caterpillar’s payout ratio is 26.15%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $11,750,181.12. The trade was a 8.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased 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 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. Over the last quarter, insiders sold 20,774 shares of company stock worth $8,233,034. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CAT. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup cut their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $365.33.

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.