Washburn Capital Management Inc. Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

Washburn Capital Management Inc. lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 8.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,762 shares of the industrial products company’s stock after selling 270 shares during the quarter. Caterpillar comprises 0.8% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Washburn Capital Management Inc.’s holdings in Caterpillar were worth $1,080,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairman Group LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $29,000. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar in the second quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC raised its stake in shares of Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 1.2 %

NYSE CAT traded up $4.71 during mid-day trading on Monday, reaching $390.68. 252,790 shares of the stock were exchanged, compared to its average volume of 2,611,185. The business’s fifty day simple moving average is $368.57 and its 200 day simple moving average is $350.66. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a market capitalization of $191.06 billion, a PE ratio of 17.43, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.55 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 21.91 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. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on 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 sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Evercore ISI cut their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $355.50.

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.