Eads & Heald Wealth Management Raises Position in Caterpillar Inc. (NYSE:CAT)

Eads & Heald Wealth Management increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,133 shares of the industrial products company’s stock after purchasing an additional 42 shares during the period. Eads & Heald Wealth Management’s holdings in Caterpillar were worth $2,399,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after buying an additional 165,358 shares in the last quarter. International Assets Investment Management LLC grew its position in Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after buying an additional 2,131,276 shares during the period. Ameriprise Financial Inc. increased its holdings in Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after acquiring an additional 119,326 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT opened at $379.63 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.78 and a current ratio of 1.40. The stock has a market capitalization of $184.08 billion, a PE ratio of 17.60, a P/E/G ratio of 1.86 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $232.88 and a 1 year high of $403.60. The company’s 50 day simple moving average is $372.40 and its 200 day simple moving average is $351.42.

Caterpillar (NYSE:CAT) 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 firm 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 business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.52 earnings per share. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.49%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on 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 in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred 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 sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial raised their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup dropped their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $357.56.

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.