Woodmont Investment Counsel LLC Has $993,000 Stake in Caterpillar Inc. (NYSE:CAT)

Woodmont Investment Counsel LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.2% in the third quarter, HoldingsChannel reports. The firm owned 2,538 shares of the industrial products company’s stock after acquiring an additional 29 shares during the period. Woodmont Investment Counsel LLC’s holdings in Caterpillar were worth $993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAT. BNC Wealth Management LLC raised its position in shares of Caterpillar by 7.6% during the third quarter. BNC Wealth Management LLC now owns 10,024 shares of the industrial products company’s stock worth $3,921,000 after acquiring an additional 705 shares during the last quarter. WoodTrust Financial Corp bought a new stake in shares of Caterpillar during the third quarter worth $221,000. Cozad Asset Management Inc. raised its position in shares of Caterpillar by 4.3% during the third quarter. Cozad Asset Management Inc. now owns 7,425 shares of the industrial products company’s stock worth $2,904,000 after acquiring an additional 304 shares during the last quarter. Jackson Square Capital LLC raised its position in shares of Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after acquiring an additional 4,182 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC raised its position in shares of Caterpillar by 18.6% during the third quarter. Walkner Condon Financial Advisors LLC now owns 976 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 153 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, 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 sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 33,442 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,792 shares of company stock worth $3,515,978 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 8.8 %

CAT stock opened at $416.97 on Thursday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market capitalization of $202.19 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.86 and a beta of 1.10. The business has a 50-day moving average of $374.93 and a 200-day moving average of $352.11. Caterpillar Inc. has a fifty-two week low of $233.57 and a fifty-two week high of $418.30.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS 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 company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the company posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.82 earnings per share 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 dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.35%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted 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. Citigroup dropped their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $358.19.

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.