OneAscent Financial Services LLC Acquires New Shares in Caterpillar Inc. (NYSE:CAT)

OneAscent Financial Services LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,171 shares of the industrial products company’s stock, valued at approximately $4,369,000. Caterpillar accounts for about 3.1% of OneAscent Financial Services LLC’s holdings, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAT. International Assets Investment Management LLC lifted its holdings in shares of Caterpillar by 39,534.0% during the 3rd 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 buying an additional 2,131,276 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after buying an additional 307,479 shares during the period. Altshuler Shaham Ltd lifted its holdings in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after buying an additional 266,969 shares during the period. Swedbank AB bought a new position in shares of Caterpillar during the 1st quarter valued at $97,042,000. Finally, Capital International Investors lifted its holdings in shares of Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after buying an additional 244,253 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 0.1 %

Shares of Caterpillar stock opened at $384.53 on Tuesday. The firm has a market cap of $185.65 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.90 and a beta of 1.10. The business has a 50-day moving average price of $381.86 and a 200-day moving average price of $354.37. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.52 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.47%. Caterpillar’s dividend payout ratio is currently 26.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America raised their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $321.00 to $365.00 in a report on Wednesday, November 13th. UBS Group raised their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Citigroup decreased their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Truist Financial raised their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $365.33.

Insider Buying and Selling

In related news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 23,749 shares of company stock worth $9,251,912. Corporate insiders own 0.29% of the company’s stock.

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.