Savvy Advisors Inc. Acquires 2,101 Shares of Caterpillar Inc. (NYSE:CAT)

Savvy Advisors Inc. boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 104.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,104 shares of the industrial products company's stock after acquiring an additional 2,101 shares during the period. Savvy Advisors Inc.'s holdings in Caterpillar were worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Fairscale Capital LLC bought a new position in shares of Caterpillar during the second quarter valued at $36,000. Capital Performance Advisors LLP bought a new stake in Caterpillar in the 3rd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC grew its holdings in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays raised 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. Citigroup dropped their price objective on Caterpillar from $445.00 to $435.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. 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, Caterpillar has a consensus rating of "Hold" and a consensus target price of $362.40.

Caterpillar Price Performance

Shares of CAT traded down $3.46 during mid-day trading on Tuesday, hitting $393.08. The company's stock had a trading volume of 1,737,171 shares, compared to its average volume of 2,624,332. Caterpillar Inc. has a fifty-two week low of $238.88 and a fifty-two week high of $418.50. The firm has a 50-day moving average price of $377.62 and a 200 day moving average price of $353.01. The stock has a market capitalization of $189.78 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.94 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate 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 net margin of 16.26% and a return on equity of 59.09%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $5.52 EPS. On average, research analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors 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 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's payout ratio is presently 26.15%.

Insider Activity

In other news, CAO William E. Schaupp sold 968 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock worth $9,251,912 in the last quarter. Corporate insiders own 0.29% of the company's stock.

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.