Court Place Advisors LLC Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Court Place Advisors LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 4.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,619 shares of the industrial products company’s stock after selling 345 shares during the quarter. Caterpillar accounts for 0.9% of Court Place Advisors LLC’s portfolio, making the stock its 28th biggest position. Court Place Advisors LLC’s holdings in Caterpillar were worth $2,980,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC raised its holdings in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares during the period. Pacifica Partners Inc. raised its stake in shares of Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares during the period. Souders Financial Advisors lifted its position in shares of Caterpillar by 0.8% during the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock valued at $1,218,000 after buying an additional 29 shares in the last quarter. Hilltop National Bank grew its stake in shares of Caterpillar by 1.2% during the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after acquiring an additional 31 shares during the period. Finally, Procyon Advisors LLC increased its holdings in Caterpillar by 0.3% in the 3rd quarter. Procyon Advisors LLC now owns 11,659 shares of the industrial products company’s stock worth $4,560,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’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 transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Raymond James assumed coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Barclays upped their price objective 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 target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $355.50.

Caterpillar Trading Up 0.7 %

Shares of CAT traded up $2.63 during midday trading on Friday, hitting $389.69. The stock had a trading volume of 219,919 shares, compared to its average volume of 2,615,704. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The stock’s 50 day moving average is $367.72 and its 200 day moving average is $350.86. The firm has a market cap of $190.58 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $5.55 earnings per share. As a group, analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is 25.46%.

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.