Objective Capital Management LLC Makes New $717,000 Investment in Caterpillar Inc. (NYSE:CAT)

Objective Capital Management LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,832 shares of the industrial products company's stock, valued at approximately $717,000.

Several other large investors have also bought and sold shares of CAT. 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 valued at $8,356,930,000 after acquiring an additional 2,131,276 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company's stock worth $149,385,000 after purchasing an additional 307,479 shares during the period. Altshuler Shaham Ltd boosted its holdings in shares of Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock worth $91,606,000 after buying an additional 266,969 shares during the last quarter. Swedbank AB bought a new position in Caterpillar during the first quarter valued at about $97,042,000. Finally, Capital International Investors increased its holdings in 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. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Caterpillar stock traded down $14.84 during mid-day trading on Friday, hitting $393.37. 3,345,862 shares of the company traded hands, compared to its average volume of 2,292,855. The stock has a fifty day moving average price of $376.80 and a 200-day moving average price of $352.75. The stock has a market cap of $190.75 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. Caterpillar Inc. has a one year low of $233.82 and a one year 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.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion during the quarter, compared to analysts' expectations of $16.37 billion. During the same quarter last year, the firm posted $5.52 earnings per share. The firm's revenue was down 4.2% on a year-over-year basis. On average, equities analysts predict that Caterpillar Inc. will post 21.69 earnings per share 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 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.

Insider Buying and Selling

In related news, Director Gerald Johnson purchased 100 shares of the firm's stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company's stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 4,976 shares of the company's stock, valued at approximately $2,079,968. This represents a 0.00 % 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. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAT shares. StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" 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 company a "buy" rating in a research note on Wednesday, October 9th. Citigroup lowered their price target on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Finally, Bank of America lifted their price objective on shares of 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 assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $362.40.

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.