Caterpillar Inc. (NYSE:CAT) Position Boosted by Principal Securities Inc.

Principal Securities Inc. lifted its stake in Caterpillar Inc. (NYSE:CAT) by 13.1% in the third quarter, Holdings Channel.com reports. The firm owned 18,310 shares of the industrial products company’s stock after acquiring an additional 2,115 shares during the quarter. Principal Securities Inc.’s holdings in Caterpillar were worth $7,162,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CAT. Norden Group LLC bought a new position in shares of Caterpillar during the 1st quarter worth about $672,000. Diversify Advisory Services LLC bought a new stake in Caterpillar in the 1st quarter valued at $926,000. Mission Wealth Management LP raised its stake in shares of Caterpillar by 40.5% in the 1st quarter. Mission Wealth Management LP now owns 6,207 shares of the industrial products company’s stock valued at $2,274,000 after buying an additional 1,789 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Caterpillar by 0.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 136,815 shares of the industrial products company’s stock valued at $50,133,000 after acquiring an additional 570 shares during the period. Finally, Precision Wealth Strategies LLC acquired a new position in Caterpillar in the first quarter worth about $217,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $376.20 on Friday. The stock has a market capitalization of $182.42 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.86 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The business has a 50-day moving average price of $371.78 and a two-hundred day moving average price of $351.32.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the prior year, the company earned $5.52 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.50%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial raised their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Robert W. Baird boosted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $357.56.

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.