Concurrent Investment Advisors LLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Concurrent Investment Advisors LLC raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,826 shares of the industrial products company's stock after buying an additional 2,244 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Caterpillar were worth $8,537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foster & Motley Inc. lifted its position in shares of Caterpillar by 0.9% during the 3rd quarter. Foster & Motley Inc. now owns 16,659 shares of the industrial products company's stock valued at $6,516,000 after acquiring an additional 145 shares during the period. Radnor Capital Management LLC bought a new stake in shares of Caterpillar during the 3rd quarter valued at $3,271,000. Financial Security Advisor Inc. bought a new stake in shares of Caterpillar during the 3rd quarter valued at $203,000. Catalina Capital Group LLC lifted its position in shares of Caterpillar by 10.1% during the 3rd quarter. Catalina Capital Group LLC now owns 2,691 shares of the industrial products company's stock valued at $1,053,000 after acquiring an additional 246 shares during the period. Finally, Balentine LLC lifted its position in shares of Caterpillar by 389.7% during the 3rd quarter. Balentine LLC now owns 3,359 shares of the industrial products company's stock valued at $1,314,000 after acquiring an additional 2,673 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 8.8 %

Shares of CAT stock traded up $33.60 on Wednesday, hitting $416.97. The company had a trading volume of 4,719,382 shares, compared to its average volume of 2,625,935. The firm has a market cap of $202.19 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.86 and a beta of 1.10. The stock's 50-day moving average is $374.93 and its two-hundred day moving average is $352.11. 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 Inc. has a twelve month low of $233.57 and a twelve month high of $418.30.

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 for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during 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 for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.52 earnings per share. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.82 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.35%. Caterpillar's payout ratio is currently 26.15%.

Insiders Place Their Bets

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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,792 shares of company stock worth $3,515,978. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAT. Morgan Stanley downgraded Caterpillar from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Evercore ISI dropped their price objective on Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Citigroup dropped their price objective on Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Finally, Robert W. Baird upped their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $358.19.

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.