Balentine LLC Buys 2,673 Shares of Caterpillar Inc. (NYSE:CAT)

Balentine LLC boosted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 389.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,359 shares of the industrial products company's stock after purchasing an additional 2,673 shares during the quarter. Balentine LLC's holdings in Caterpillar were worth $1,314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Focused Wealth Management Inc boosted its position in shares of Caterpillar by 0.6% in the 3rd quarter. Focused Wealth Management Inc now owns 7,668 shares of the industrial products company's stock worth $2,999,000 after purchasing an additional 44 shares in the last quarter. MinichMacGregor Wealth Management LLC boosted its holdings in Caterpillar by 2.3% in the third quarter. MinichMacGregor Wealth Management LLC now owns 1,226 shares of the industrial products company's stock worth $479,000 after acquiring an additional 28 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings in shares of Caterpillar by 1.0% during the third quarter. Crestwood Advisors Group LLC now owns 21,728 shares of the industrial products company's stock valued at $8,498,000 after acquiring an additional 222 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Caterpillar by 3.2% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 12,334 shares of the industrial products company's stock worth $4,824,000 after purchasing an additional 386 shares in the last quarter. Finally, Hanlon Investment Management Inc. grew its position in Caterpillar by 16.3% during the 3rd quarter. Hanlon Investment Management Inc. now owns 1,262 shares of the industrial products company's stock valued at $494,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares of the company's stock, valued at $642,332.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the sale, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,792 shares of company stock valued at $3,515,978 over the last ninety days. 0.29% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $33.60 during midday trading on Wednesday, hitting $416.97. The company had a trading volume of 4,719,382 shares, compared to its average volume of 2,625,935. The company has a market cap of $202.19 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.86 and a beta of 1.10. 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 has a fifty day moving average of $374.93 and a two-hundred day moving average of $352.11. Caterpillar Inc. has a 12-month low of $233.57 and a 12-month high of $418.30.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $16.37 billion. During the same period last year, the business earned $5.52 EPS. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar Inc. will post 21.82 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.35%. Caterpillar's payout ratio is presently 26.15%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CAT shares. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. 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. Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. increased their price objective on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $358.19.

About Caterpillar

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.