Mission Creek Capital Partners Inc. Lowers Stake in Caterpillar Inc. (NYSE:CAT)

Mission Creek Capital Partners Inc. cut its position in Caterpillar Inc. (NYSE:CAT) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,252 shares of the industrial products company’s stock after selling 130 shares during the period. Caterpillar comprises 1.3% of Mission Creek Capital Partners Inc.’s portfolio, making the stock its 18th largest holding. Mission Creek Capital Partners Inc.’s holdings in Caterpillar were worth $5,574,000 at the end of the most recent reporting period.

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

Caterpillar Stock Down 0.8 %

NYSE:CAT opened at $399.24 on Wednesday. The stock has a fifty day simple moving average of $392.26 and a 200-day simple moving average of $358.40. 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 has a market cap of $192.75 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $252.42 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last released 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 analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $5.52 earnings per share. Analysts anticipate that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

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

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. 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. Citigroup decreased their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and upped their price target for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $365.33.

Insiders Place Their Bets

In related news, Director Daniel M. Dickinson sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares of the company’s stock, valued at $2,079,968. The trade was a 20.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is currently owned by company insiders.

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.