SteelPeak Wealth LLC Trims Stake in Caterpillar Inc. (NYSE:CAT)

SteelPeak Wealth LLC lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,737 shares of the industrial products company’s stock after selling 1,670 shares during the quarter. SteelPeak Wealth LLC’s holdings in Caterpillar were worth $6,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. First Trust Direct Indexing L.P. raised its stake in shares of Caterpillar by 6.4% during the third quarter. First Trust Direct Indexing L.P. now owns 17,898 shares of the industrial products company’s stock valued at $7,000,000 after acquiring an additional 1,071 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Caterpillar by 15.8% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,860 shares of the industrial products company’s stock worth $1,107,000 after buying an additional 390 shares during the period. Creekmur Asset Management LLC boosted its position in Caterpillar by 7.7% during the 3rd quarter. Creekmur Asset Management LLC now owns 20,110 shares of the industrial products company’s stock valued at $7,865,000 after acquiring an additional 1,444 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Caterpillar by 43,847.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 124,370 shares of the industrial products company’s stock worth $48,644,000 after acquiring an additional 124,087 shares in the last quarter. Finally, Great Diamond Partners LLC bought a new stake in Caterpillar during the third quarter valued at about $207,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CAT. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. 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. Finally, Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $355.50.

Caterpillar Price Performance

Shares of CAT stock traded down $1.34 during trading hours on Wednesday, hitting $386.17. 2,191,781 shares of the company’s stock were exchanged, compared to its average volume of 2,621,266. The firm has a 50 day moving average of $370.38 and a two-hundred day moving average of $350.94. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The firm has a market cap of $188.86 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.85 and a beta of 1.10. 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 (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.55 earnings per share. Sell-side analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

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 given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 25.46%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated 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 directly owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $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 corporate insiders.

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.