Prime Capital Investment Advisors LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,069 shares of the industrial products company's stock after acquiring an additional 2,128 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Caterpillar were worth $11,369,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Savvy Advisors Inc. raised its holdings in Caterpillar by 104.9% in the third quarter. Savvy Advisors Inc. now owns 4,104 shares of the industrial products company's stock worth $1,605,000 after buying an additional 2,101 shares during the last quarter. Apollon Financial LLC increased its position in shares of Caterpillar by 2.5% during the third quarter. Apollon Financial LLC now owns 1,340 shares of the industrial products company's stock valued at $524,000 after acquiring an additional 33 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Caterpillar in the 3rd quarter worth approximately $630,000. WealthPlan Investment Management LLC boosted its stake in Caterpillar by 590.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 6,141 shares of the industrial products company's stock valued at $2,402,000 after purchasing an additional 5,251 shares during the last quarter. Finally, First National Trust Co increased its holdings in shares of Caterpillar by 0.3% in the 3rd quarter. First National Trust Co now owns 48,965 shares of the industrial products company's stock worth $19,151,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.
Insiders Place Their Bets
In related news, insider Lange Bob De sold 12,657 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of 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 the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % 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 worth $9,251,912 over the last quarter. Company insiders own 0.29% of the company's stock.
Wall Street Analysts Forecast Growth
CAT has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Barclays raised their price target on Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Finally, Truist Financial raised their target price on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar currently has a consensus rating of "Hold" and a consensus price target of $362.40.
Read Our Latest Stock Analysis on Caterpillar
Caterpillar Price Performance
CAT stock traded down $3.46 during mid-day trading on Tuesday, hitting $393.08. The company had a trading volume of 1,737,171 shares, compared to its average volume of 2,624,332. The company has a 50-day moving average price of $377.62 and a 200 day moving average price of $353.01. Caterpillar Inc. has a 12-month low of $238.88 and a 12-month high of $418.50. The company has a market capitalization of $189.78 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.94 and a beta of 1.10. 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 issued its quarterly earnings data 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 for 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 was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.52 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current year.
Caterpillar Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's payout ratio is currently 26.15%.
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.
See Also
Before you consider Caterpillar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Caterpillar wasn't on the list.
While Caterpillar currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
