Quest Partners LLC Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Quest Partners LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 73.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 584 shares of the industrial products company's stock after selling 1,604 shares during the quarter. Quest Partners LLC's holdings in Caterpillar were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in Caterpillar in the first quarter worth $130,000. Kozak & Associates Inc. grew its stake in Caterpillar by 14.0% in the 1st quarter. Kozak & Associates Inc. now owns 1,661 shares of the industrial products company's stock worth $583,000 after buying an additional 204 shares in the last quarter. Strategic Wealth Partners Ltd. bought a new position in shares of Caterpillar in the 1st quarter worth $405,000. Virtu Financial LLC bought a new stake in shares of Caterpillar during the 1st quarter worth $604,000. Finally, Independent Wealth Network Inc. grew its position in Caterpillar by 0.6% in the first quarter. Independent Wealth Network Inc. now owns 26,658 shares of the industrial products company's stock worth $9,768,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. Citigroup reduced their target price on Caterpillar from $445.00 to $435.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Evercore ISI cut shares of 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 research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Caterpillar currently has an average rating of "Hold" and an average price target of $365.33.

Insider Activity at Caterpillar

In related 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 value of $368,788.64. Following 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 36.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 20,774 shares of company stock worth $8,233,034. Company insiders own 0.29% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $3.80 during midday trading on Wednesday, reaching $404.03. 614,894 shares of the company's stock traded hands, compared to its average volume of 2,591,553. Caterpillar Inc. has a one year low of $246.01 and a one year high of $418.50. The stock has a 50 day moving average of $389.05 and a 200 day moving average of $356.75. The company has a market cap of $195.07 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 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 firm 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 company posted $5.52 earnings per share. The firm's revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar's dividend payout ratio is currently 26.15%.

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.