Caterpillar Inc. (NYSE:CAT) Stock Position Increased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,349,608 shares of the industrial products company's stock after buying an additional 30,609 shares during the quarter. Caterpillar accounts for about 2.1% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 8th biggest position. Diamond Hill Capital Management Inc. owned 0.28% of Caterpillar worth $527,859,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CAT. Acadian Asset Management LLC increased its holdings in shares of Caterpillar by 17.2% in 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 purchasing an additional 1,327 shares during the period. Alpha Cubed Investments LLC lifted its stake in Caterpillar by 5.6% in 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 buying an additional 6,212 shares in the last quarter. First Affirmative Financial Network purchased a new position in Caterpillar in the 3rd quarter valued at $204,000. Inspire Advisors LLC grew its stake in Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company's stock valued at $3,233,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Jackson Square Capital LLC boosted its position in shares of Caterpillar by 33.7% during the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company's stock valued at $6,485,000 after acquiring an additional 4,182 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $3.75 during midday trading on Monday, hitting $397.12. The stock had a trading volume of 782,480 shares, compared to its average volume of 2,623,469. Caterpillar Inc. has a fifty-two week low of $238.88 and a fifty-two week high of $418.50. 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 company's 50-day moving average price is $376.80 and its 200-day moving average price is $352.60. The company has a market capitalization of $191.73 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the firm earned $5.52 EPS. The firm's revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid 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 dividend yield of 1.42%. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAT. JPMorgan Chase & Co. boosted their target price on Caterpillar from $435.00 to $500.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. StockNews.com downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Evercore ISI dropped 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, Truist Financial increased their target price 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $362.40.

Insider Activity

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 shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 15,615 shares of the company's stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 71,107 shares of the company's stock, valued at $29,171,646.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,749 shares of company stock valued at $9,251,912. Corporate insiders own 0.29% of the company's stock.

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.