Black Diamond Financial LLC Has $373,000 Position in Caterpillar Inc. (NYSE:CAT)

Black Diamond Financial LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 38.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 955 shares of the industrial products company’s stock after acquiring an additional 263 shares during the quarter. Black Diamond Financial LLC’s holdings in Caterpillar were worth $373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after buying an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Caterpillar by 5.7% during the 2nd 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 during the last quarter. International Assets Investment Management LLC raised its position in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. raised its position 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 purchasing an additional 198,123 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This represents a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,749 shares of company stock valued at $9,251,912. Insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $387.36 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The business has a 50-day simple moving average of $379.68 and a 200 day simple moving average of $353.59. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The stock has a market cap of $187.02 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.91 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the firm posted $5.52 EPS. The company’s revenue was down 4.2% on a year-over-year basis. On average, research analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders 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 dividend yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

CAT has been the subject of several recent research reports. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. UBS Group raised their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Barclays raised their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the company from $321.00 to $365.00 in a report on Wednesday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $365.33.

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.