Caterpillar Inc. (NYSE:CAT) Shares Sold by Constitution Capital LLC

Constitution Capital LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 33.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,018 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Constitution Capital LLC’s holdings in Caterpillar were worth $789,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the first quarter worth $27,000. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at $28,000. Finally, Fairman Group LLC purchased a new position in shares of Caterpillar during the 1st quarter worth $29,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAT. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $349.00 to $332.00 in a research note on Monday. Raymond James initiated coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $351.44.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Down 2.7 %

Caterpillar stock traded down $10.92 during trading on Monday, reaching $391.10. The stock had a trading volume of 854,015 shares, compared to its average volume of 2,641,500. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The stock has a market cap of $191.27 billion, a PE ratio of 18.15, a P/E/G ratio of 1.85 and a beta of 1.10. The business has a 50 day moving average price of $357.45 and a 200 day moving average price of $349.26.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the prior year, the firm posted $5.55 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.44%. Caterpillar’s payout ratio is currently 25.46%.

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.