Harvest Portfolios Group Inc. Has $18.13 Million Stake in Caterpillar Inc. (NYSE:CAT)

Harvest Portfolios Group Inc. lowered its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 12.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,362 shares of the industrial products company's stock after selling 6,691 shares during the period. Harvest Portfolios Group Inc.'s holdings in Caterpillar were worth $18,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Acadian Asset Management LLC grew its holdings in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company's stock worth $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in shares of 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 acquiring an additional 6,212 shares during the last quarter. First Affirmative Financial Network acquired a new stake in shares of Caterpillar during the 3rd quarter valued at approximately $204,000. Inspire Advisors LLC increased its stake in Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company's stock valued at $3,233,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Caterpillar by 3.5% during the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company's stock worth $92,688,000 after purchasing an additional 9,321 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a research note on Thursday, October 31st. Evercore ISI lowered their target price on shares of Caterpillar from $338.00 to $321.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Truist Financial boosted 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. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, September 24th. Finally, Morgan Stanley cut Caterpillar from an "equal weight" rating to an "underweight" rating and dropped their price target 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 given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $358.19.

Caterpillar Stock Performance

Shares of CAT stock traded up $33.60 on Wednesday, reaching $416.97. The stock had a trading volume of 4,719,382 shares, compared to its average volume of 2,625,935. Caterpillar Inc. has a 12 month low of $233.57 and a 12 month high of $418.30. 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 firm has a market capitalization of $202.19 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.86 and a beta of 1.10. The firm's 50-day moving average is $373.55 and its two-hundred day moving average is $351.65.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results 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 business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the firm posted $5.52 earnings per share. The business's revenue was down 4.2% compared to the same quarter last year. On average, research analysts expect that Caterpillar Inc. will post 21.82 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business 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. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio is presently 26.15%.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company's stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the business's 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 sale, the chief accounting officer now directly owns 1,686 shares of the company's stock, valued at $642,332.28. 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 9,792 shares of company stock worth $3,515,978. Insiders own 0.29% of the company's stock.

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.