Allworth Financial LP Lowers Stake in Caterpillar Inc. (NYSE:CAT)

Allworth Financial LP decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,698 shares of the industrial products company’s stock after selling 262 shares during the quarter. Allworth Financial LP’s holdings in Caterpillar were worth $9,660,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar in the 2nd quarter valued at $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Fairman Group LLC purchased a new stake in shares of Caterpillar during the first quarter worth about $29,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $36,000. Finally, POM Investment Strategies LLC lifted its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $385.97 on Friday. The stock has a fifty day simple moving average of $368.57 and a 200-day simple moving average of $350.95. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market cap of $188.76 billion, a PE ratio of 17.43, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’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. Equities analysts anticipate that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

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 given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group increased their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI decreased their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, Citigroup upped their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $355.50.

Insiders Place Their Bets

In other news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of 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 disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Caterpillar 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.