Davidson Capital Management Inc. Purchases 9,292 Shares of Caterpillar Inc. (NYSE:CAT)

Davidson Capital Management Inc. increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 44,247.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,313 shares of the industrial products company's stock after acquiring an additional 9,292 shares during the quarter. Caterpillar makes up about 1.1% of Davidson Capital Management Inc.'s portfolio, making the stock its 9th biggest holding. Davidson Capital Management Inc.'s holdings in Caterpillar were worth $3,643,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CAT. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the second quarter valued at about $28,000. Fairscale Capital LLC acquired a new position in Caterpillar during the second quarter worth $36,000. POM Investment Strategies LLC boosted its holdings in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 108 shares during the period. Finally, TruNorth Capital Management LLC grew its holdings in shares of Caterpillar by 215.4% in the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Down 0.7 %

Shares of Caterpillar stock traded down $2.84 during midday trading on Tuesday, reaching $387.77. 2,184,175 shares of the company's stock traded hands, compared to its average volume of 2,623,306. The company has a market cap of $189.64 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The company's 50 day simple moving average is $369.49 and its 200 day simple moving average is $350.79. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts' consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analysts' expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.55 earnings per share. Equities analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given 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 1.45%. Caterpillar's dividend payout ratio (DPR) is presently 25.46%.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their price target on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 7th. Finally, StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Caterpillar has a consensus rating of "Hold" and a consensus target price of $355.50.

Insider Buying and Selling

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company's stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gerald Johnson bought 100 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were 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 in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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.