Caprock Group LLC Acquires 1,661 Shares of Caterpillar Inc. (NYSE:CAT)

Caprock Group LLC grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 14.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,937 shares of the industrial products company's stock after purchasing an additional 1,661 shares during the period. Caprock Group LLC's holdings in Caterpillar were worth $5,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAT. Acadian Asset Management LLC raised its holdings in shares of 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 purchasing an additional 1,327 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Caterpillar by 6.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 219,154 shares of the industrial products company's stock valued at $80,342,000 after buying an additional 13,257 shares during the last quarter. Pitcairn Co. boosted its stake in shares of Caterpillar by 6.4% in the 1st quarter. Pitcairn Co. now owns 3,468 shares of the industrial products company's stock worth $1,271,000 after buying an additional 208 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Caterpillar in the first quarter worth $606,000. Finally, Sax Wealth Advisors LLC purchased a new stake in Caterpillar during the first quarter valued at $238,000. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CAT. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Evercore ISI lowered Caterpillar from an "in-line" rating to an "underperform" rating and boosted their price target for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $365.33.

Caterpillar Price Performance

CAT traded down $2.20 during trading on Tuesday, hitting $382.26. 1,793,165 shares of the company traded hands, compared to its average volume of 2,605,757. The company has a market cap of $184.56 billion, a PE ratio of 17.83, a P/E/G ratio of 1.90 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $241.81 and a 1 year high of $418.50. 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 stock's 50-day simple moving average is $382.87 and its two-hundred day simple moving average is $354.71.

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 the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $5.52 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal 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 given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.48%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio is presently 26.15%.

Insider Activity 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 transaction of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares of the company's stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,749 shares of company stock valued at $9,251,912 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

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.