Caterpillar Inc. (NYSE:CAT) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 729,654 shares of the industrial products company’s stock after buying an additional 5,371 shares during the quarter. Principal Financial Group Inc. owned 0.15% of Caterpillar worth $285,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the 2nd quarter valued at about $36,000. POM Investment Strategies LLC increased its holdings in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC raised its position in Caterpillar by 215.4% during the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 84 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,092 shares of company stock worth $4,059,378 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Caterpillar Price Performance

CAT stock opened at $408.21 on Friday. The stock has a 50-day moving average price of $376.06 and a two-hundred day moving average price of $352.50. The company has a market cap of $197.94 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12-month low of $233.82 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business 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 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts predict that Caterpillar Inc. will post 21.77 EPS for the current year.

Caterpillar Announces Dividend

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 issued a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.38%. Caterpillar’s dividend payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAT shares. Truist Financial raised their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Citigroup cut their price target 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 increased their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. 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 company. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $358.19.

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.