WealthPLAN Partners LLC Sells 5,244 Shares of Caterpillar Inc. (NYSE:CAT)

WealthPLAN Partners LLC reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 81.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,159 shares of the industrial products company's stock after selling 5,244 shares during the quarter. WealthPLAN Partners LLC's holdings in Caterpillar were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the second quarter worth $28,000. Fairscale Capital LLC bought a new stake in Caterpillar in the second quarter valued at $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the 3rd quarter valued at about $36,000. Finally, POM Investment Strategies LLC increased its position in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock valued at $38,000 after buying an additional 108 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research reports. Truist Financial raised 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. Morgan Stanley lowered shares of Caterpillar from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Citigroup reduced their price objective on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Bank of America upped their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of "Hold" and a consensus target price of $365.33.

Insider Activity at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 1,686 shares of the company's stock, valued at approximately $642,332.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the business's stock in a transaction dated 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 owns 1,686 shares of the company's stock, valued at approximately $642,332.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 23,749 shares of company stock worth $9,251,912 over the last quarter. Corporate insiders own 0.29% of the company's stock.

Caterpillar Trading Down 1.5 %

Shares of Caterpillar stock traded down $5.94 on Wednesday, hitting $387.07. The stock had a trading volume of 1,993,091 shares, compared to its average volume of 2,621,469. The stock has a market cap of $186.88 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.94 and a beta of 1.10. The stock's 50-day simple moving average is $378.67 and its two-hundred day simple moving average is $353.36. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

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 the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business's revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.52 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio (DPR) 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.