Accredited Investors Inc. Buys 89,079 Shares of Caterpillar Inc. (NYSE:CAT)

Accredited Investors Inc. increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 3,798.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,424 shares of the industrial products company's stock after acquiring an additional 89,079 shares during the quarter. Caterpillar makes up 0.9% of Accredited Investors Inc.'s holdings, making the stock its 20th largest holding. Accredited Investors Inc.'s holdings in Caterpillar were worth $35,758,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. GSA Capital Partners LLP purchased a new position in Caterpillar in the first quarter valued at about $433,000. Sei Investments Co. boosted its stake in shares of Caterpillar by 14.1% during the 1st quarter. Sei Investments Co. now owns 114,337 shares of the industrial products company's stock worth $41,899,000 after acquiring an additional 14,121 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Caterpillar by 10.6% during the 1st quarter. Headlands Technologies LLC now owns 982 shares of the industrial products company's stock worth $360,000 after acquiring an additional 94 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Caterpillar by 13.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 17,249 shares of the industrial products company's stock worth $6,320,000 after acquiring an additional 1,981 shares in the last quarter. Finally, Rogco LP boosted its stake in shares of Caterpillar by 2.8% during the 1st quarter. Rogco LP now owns 3,083 shares of the industrial products company's stock worth $1,130,000 after acquiring an additional 85 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CAT shares. Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Finally, Robert W. Baird increased their target price on Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $362.40.

Caterpillar Price Performance

Shares of CAT traded down $3.46 during mid-day trading on Tuesday, reaching $393.08. The company had a trading volume of 1,737,171 shares, compared to its average volume of 2,624,332. Caterpillar Inc. has a twelve month low of $238.88 and a twelve month high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The company's 50-day moving average is $377.62 and its 200-day moving average is $353.01. The company has a market capitalization of $189.78 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.94 and a beta of 1.10.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the company posted $5.52 earnings per share. The company's quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.43%. Caterpillar's dividend payout ratio is 26.15%.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company's stock, valued at $642,332.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO William E. Schaupp sold 968 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company's stock, valued at $642,332.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock valued at $9,251,912 in the last three months. Corporate insiders own 0.29% of the company's stock.

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.