Caterpillar Inc. (NYSE:CAT) Stock Holdings Cut by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 37.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,906 shares of the industrial products company's stock after selling 4,171 shares during the period. Lake Street Private Wealth LLC's holdings in Caterpillar were worth $2,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc grew its position in Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company's stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. Dimensional Fund Advisors LP grew its position in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company's stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the period. Ameriprise Financial Inc. grew its position in Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company's stock valued at $702,431,000 after acquiring an additional 198,123 shares during the period. Capital Research Global Investors grew its position in Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company's stock valued at $740,225,000 after acquiring an additional 119,326 shares during the period. Finally, Capital Wealth Planning LLC grew its position in Caterpillar by 6.4% during the second quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company's stock valued at $460,162,000 after acquiring an additional 83,571 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 0.7 %

NYSE CAT traded down $2.87 on Wednesday, hitting $385.59. 1,501,192 shares of the stock traded hands, compared to its average volume of 2,631,329. The stock has a 50-day moving average of $366.90 and a 200 day moving average of $350.61. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60. The company has a market capitalization of $188.57 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business's revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.55 earnings per share. As a group, analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio (DPR) is 25.46%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a "sell" rating in a research report on Wednesday, August 7th. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. StockNews.com cut Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $355.50.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company's stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company's stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on 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 directly owns 33,442 shares of the company's stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

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.