OneAscent Financial Services LLC Buys Shares of 11,171 Caterpillar Inc. (NYSE:CAT)

OneAscent Financial Services LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,171 shares of the industrial products company's stock, valued at approximately $4,369,000. Caterpillar accounts for approximately 3.1% of OneAscent Financial Services LLC's portfolio, making the stock its 6th largest holding.

A number of other hedge funds have also recently bought and sold shares of CAT. Chesapeake Wealth Management grew its stake in Caterpillar by 7.7% during the 3rd quarter. Chesapeake Wealth Management now owns 2,480 shares of the industrial products company's stock valued at $970,000 after acquiring an additional 177 shares in the last quarter. Caprock Group LLC grew its stake in Caterpillar by 14.7% during the 3rd quarter. Caprock Group LLC now owns 12,937 shares of the industrial products company's stock valued at $5,060,000 after acquiring an additional 1,661 shares in the last quarter. OneAscent Wealth Management LLC purchased a new position in Caterpillar during the 3rd quarter valued at about $743,000. Aviso Wealth Management grew its stake in Caterpillar by 113.2% during the 3rd quarter. Aviso Wealth Management now owns 2,034 shares of the industrial products company's stock valued at $795,000 after acquiring an additional 1,080 shares in the last quarter. Finally, Braun Stacey Associates Inc. grew its stake in Caterpillar by 2,277.1% during the 3rd quarter. Braun Stacey Associates Inc. now owns 33,874 shares of the industrial products company's stock valued at $13,249,000 after acquiring an additional 32,449 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Down 0.6 %

CAT traded down $2.20 during midday trading on Tuesday, hitting $382.26. 1,793,165 shares of the company were exchanged, compared to its average volume of 2,605,757. The firm has a market capitalization of $184.56 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.90 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $241.81 and a 1-year high of $418.50. The firm's 50 day moving average price is $382.87 and its 200-day moving average price is $354.71. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the firm earned $5.52 earnings per share. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio is presently 26.15%.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of the 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 of the company's stock, valued at $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm's stock in a transaction dated 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 directly owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock valued at $9,251,912 over the last three months. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup reduced their price target on Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a report on Thursday, October 31st. UBS Group lifted their price target on Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. StockNews.com lowered Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, September 24th. Evercore ISI lowered Caterpillar from an "in-line" rating to an "underperform" rating and lifted their price target for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. Finally, Morgan Stanley lowered Caterpillar from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Caterpillar presently has a consensus rating of "Hold" and a consensus price target of $365.33.

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.