WealthPlan Investment Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 590.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,141 shares of the industrial products company's stock after acquiring an additional 5,251 shares during the quarter. WealthPlan Investment Management LLC's holdings in Caterpillar were worth $2,402,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CAT. Smallwood Wealth Investment Management LLC boosted its stake in shares of Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company's stock valued at $405,000 after purchasing an additional 26 shares in the last quarter. First Bank & Trust grew its stake in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company's stock worth $277,000 after acquiring an additional 27 shares in the last quarter. Washington Trust Bank grew its stake in shares of Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company's stock worth $919,000 after acquiring an additional 27 shares in the last quarter. Pacifica Partners Inc. grew its stake in shares of Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company's stock valued at $707,000 after buying an additional 28 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors grew its stake in shares of Caterpillar by 0.8% in the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company's stock valued at $1,356,000 after buying an additional 28 shares in the last quarter. Institutional investors own 70.98% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on CAT shares. UBS Group lifted their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a "sell" rating in a research report on Monday, November 4th. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a research report on Thursday, October 31st. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley downgraded Caterpillar from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $362.40.
Check Out Our Latest Stock Report on CAT
Caterpillar Price Performance
Shares of NYSE CAT traded down $3.59 during trading on Tuesday, reaching $392.95. The company had a trading volume of 576,713 shares, compared to its average volume of 2,619,039. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock has a market cap of $189.72 billion, a PE ratio of 18.40, a PEG ratio of 1.94 and a beta of 1.10. The business's 50 day moving average price is $377.62 and its 200-day moving average price is $353.01. Caterpillar Inc. has a 52 week low of $238.88 and a 52 week high of $418.50.
Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.52 EPS. Analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.
Caterpillar Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.44%. Caterpillar's dividend payout ratio is currently 26.15%.
Insider Activity
In related news, insider Lange Bob De sold 12,657 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company's stock, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This trade represents 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 worth $9,251,912 in the last quarter. 0.29% of the stock is owned by corporate insiders.
Caterpillar Company Profile
(
Free Report)
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.
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