Fifth Third Wealth Advisors LLC Acquires 3,148 Shares of Caterpillar Inc. (NYSE:CAT)

Fifth Third Wealth Advisors LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 26.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,959 shares of the industrial products company's stock after buying an additional 3,148 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Caterpillar were worth $5,851,000 as of its most recent SEC filing.

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

Caterpillar Stock Down 0.7 %

NYSE CAT traded down $2.76 during trading hours on Tuesday, hitting $381.70. 753,254 shares of the company traded hands, compared to its average volume of 2,601,115. The business's 50-day moving average is $382.87 and its 200-day moving average is $354.71. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock has a market capitalization of $184.28 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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). The business 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%. Caterpillar's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.52 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business 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 dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm's stock in a transaction 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 in the company, valued at $11,750,181.12. This trade represents a 8.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % 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 in the last 90 days. 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. Citigroup lowered their price target on Caterpillar from $445.00 to $435.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Truist Financial lifted 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. Finally, Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $365.33.

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.