SteelPeak Wealth LLC Sells 1,670 Shares of Caterpillar Inc. (NYSE:CAT)

SteelPeak Wealth LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,737 shares of the industrial products company's stock after selling 1,670 shares during the period. SteelPeak Wealth LLC's holdings in Caterpillar were worth $6,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Valley National Advisers Inc. lifted its position in Caterpillar by 3.8% during the 1st quarter. Valley National Advisers Inc. now owns 1,496 shares of the industrial products company's stock valued at $548,000 after purchasing an additional 55 shares during the period. Norden Group LLC acquired a new position in Caterpillar in the first quarter valued at approximately $10,093,000. Massachusetts Wealth Management boosted its stake in Caterpillar by 4.4% in the first quarter. Massachusetts Wealth Management now owns 6,502 shares of the industrial products company's stock valued at $2,383,000 after acquiring an additional 275 shares during the last quarter. Kovack Advisors Inc. grew its holdings in Caterpillar by 1.7% during the 1st quarter. Kovack Advisors Inc. now owns 5,271 shares of the industrial products company's stock worth $1,931,000 after acquiring an additional 89 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in shares of Caterpillar by 13.6% during the 1st quarter. Cornerstone Wealth Management LLC now owns 3,984 shares of the industrial products company's stock valued at $1,460,000 after acquiring an additional 477 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the business'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 purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm's stock in a transaction dated 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 completion of 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, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company's stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group increased their target price on Caterpillar from $270.00 to $285.00 and gave the company a "sell" rating in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. Citigroup increased their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of 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 lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $355.50.

Caterpillar Stock Performance

CAT stock traded down $8.27 during trading hours on Wednesday, reaching $379.24. The stock had a trading volume of 4,032,528 shares, compared to its average volume of 2,630,042. The stock has a market capitalization of $185.47 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock has a 50-day simple moving average of $370.38 and a 200 day simple moving average of $350.94. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60.

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

Caterpillar Announces Dividend

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 paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio is currently 25.46%.

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.