Tower Wealth Partners Inc. Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Tower Wealth Partners Inc. lessened its stake in Caterpillar Inc. (NYSE:CAT) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,097 shares of the industrial products company’s stock after selling 57 shares during the period. Tower Wealth Partners Inc.’s holdings in Caterpillar were worth $429,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position 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 valued at $3,308,000 after buying an additional 1,327 shares during the period. Alpha Cubed Investments LLC grew its position in shares of Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth $926,000. First Affirmative Financial Network bought a new position in Caterpillar in the 3rd quarter worth $204,000. Finally, Inspire Advisors LLC grew its holdings in Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of analyst reports. Citigroup lowered their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $357.56.

Caterpillar Stock Up 0.9 %

Shares of NYSE:CAT opened at $379.63 on Friday. The company has a 50-day moving average price of $372.40 and a 200 day moving average price of $351.42. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12 month low of $232.88 and a 12 month high of $403.60. The company has a market cap of $184.08 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.86 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results 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 company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.52 EPS. As a group, equities research analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.49%. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % 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, insider Anthony D. Fassino sold 3,185 shares of the firm’s 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 owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate 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.