Planning Capital Management Corp Has $1.26 Million Position in Caterpillar Inc. (NYSE:CAT)

Planning Capital Management Corp lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 127.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,218 shares of the industrial products company's stock after acquiring an additional 1,801 shares during the period. Planning Capital Management Corp's holdings in Caterpillar were worth $1,259,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CAT. Acadian Asset Management LLC raised its holdings in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company's stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC lifted its position in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company's stock valued at $45,591,000 after purchasing an additional 6,212 shares during the period. First Affirmative Financial Network purchased a new position in shares of Caterpillar in the 3rd quarter worth $204,000. Inspire Advisors LLC increased its holdings in Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company's stock valued at $3,233,000 after buying an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC lifted its holdings in Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company's stock valued at $6,485,000 after purchasing an additional 4,182 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 0.1 %

NYSE:CAT traded up $0.29 during midday trading on Thursday, hitting $387.36. 1,370,281 shares of the company were exchanged, compared to its average volume of 2,615,849. The company has a fifty day simple moving average of $379.68 and a 200 day simple moving average of $353.59. The company has a market capitalization of $187.02 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm's revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.52 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared 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. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar's dividend payout ratio (DPR) is 26.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CAT shares. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Citigroup lowered their price objective on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. UBS Group increased 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. Morgan Stanley downgraded shares of Caterpillar from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Hold" and a consensus price target of $365.33.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares of the company's stock, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the business'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 completion of the sale, the director now directly owns 4,976 shares of the company's stock, valued at approximately $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is owned by company insiders.

Caterpillar Company 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.