Americana Partners LLC Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Americana Partners LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 13.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,139 shares of the industrial products company's stock after buying an additional 2,095 shares during the period. Americana Partners LLC's holdings in Caterpillar were worth $6,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC increased its position in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company's stock valued at $149,385,000 after acquiring an additional 307,479 shares during the period. Altshuler Shaham Ltd grew its position in Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock worth $91,606,000 after purchasing an additional 266,969 shares during the last quarter. Swedbank AB purchased a new stake in shares of Caterpillar in the first quarter valued at about $97,042,000. Finally, Capital International Investors grew its holdings in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company's stock worth $179,060,000 after buying an additional 244,253 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Evercore ISI dropped their target price on Caterpillar from $338.00 to $321.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, September 24th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 7th. 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 research 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 $357.56.

Caterpillar Price Performance

Shares of CAT traded up $3.43 during mid-day trading on Friday, reaching $379.63. 1,623,619 shares of the company's stock were exchanged, compared to its average volume of 2,624,214. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52-week low of $232.88 and a 52-week high of $403.60. The company has a market cap of $184.08 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.86 and a beta of 1.10. The company has a 50-day simple moving average of $371.78 and a two-hundred day simple moving average of $351.32.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 company had revenue of $16.11 billion during the quarter, compared to analysts' expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. During the same quarter in the prior year, the company earned $5.52 earnings per share. The firm's revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm 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 dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio is presently 26.15%.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company's stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction 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 transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated 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 completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% 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.