Caterpillar Inc. (NYSE:CAT) is Westchester Capital Management Inc.'s 4th Largest Position

Westchester Capital Management Inc. lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,929 shares of the industrial products company's stock after selling 1,904 shares during the quarter. Caterpillar comprises 6.2% of Westchester Capital Management Inc.'s holdings, making the stock its 4th biggest position. Westchester Capital Management Inc.'s holdings in Caterpillar were worth $25,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bridges Investment Management Inc. lifted its holdings in shares of Caterpillar by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 5,881 shares of the industrial products company's stock worth $2,300,000 after acquiring an additional 176 shares during the period. Assetmark Inc. grew its holdings in shares of Caterpillar by 5.3% during the 3rd quarter. Assetmark Inc. now owns 16,773 shares of the industrial products company's stock valued at $6,560,000 after purchasing an additional 841 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Caterpillar by 11.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,472 shares of the industrial products company's stock valued at $3,314,000 after acquiring an additional 877 shares in the last quarter. Markel Group Inc. boosted its position in Caterpillar by 2.3% during the 3rd quarter. Markel Group Inc. now owns 318,750 shares of the industrial products company's stock worth $124,670,000 after buying an additional 7,250 shares during the period. Finally, Carson Advisory Inc. raised its stake in shares of Caterpillar by 3.0% during the third quarter. Carson Advisory Inc. now owns 2,535 shares of the industrial products company's stock valued at $991,000 after acquiring an additional 74 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Citigroup cut their price objective on Caterpillar from $445.00 to $435.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Morgan Stanley lowered shares of Caterpillar from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. UBS Group raised their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a "sell" rating in a report on Monday, November 4th. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Caterpillar presently has an average rating of "Hold" and a consensus target price of $362.40.

Caterpillar Stock Performance

NYSE CAT traded down $14.84 during trading hours on Friday, reaching $393.37. 3,345,862 shares of the company were exchanged, compared to its average volume of 2,292,855. 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 stock has a market capitalization of $190.75 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.06 and a beta of 1.10. The business's 50 day simple moving average is $376.80 and its 200-day simple moving average is $352.75. Caterpillar Inc. has a 1 year low of $233.82 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the previous year, the firm earned $5.52 earnings per share. The business's quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed 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 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company's stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm's stock in a transaction on 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 sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the insider now owns 33,442 shares of the company's stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,749 shares of company stock worth $9,251,912. Corporate insiders own 0.29% of the company's stock.

Caterpillar Company 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.