AlphaCore Capital LLC Lowers Position in Caterpillar Inc. (NYSE:CAT)

AlphaCore Capital LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the third quarter, Holdings Channel.com reports. The fund owned 1,026 shares of the industrial products company’s stock after selling 58 shares during the quarter. AlphaCore Capital LLC’s holdings in Caterpillar were worth $401,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the second quarter valued at approximately $28,000. Fairscale Capital LLC bought a new stake in Caterpillar during the second quarter worth $36,000. Capital Performance Advisors LLP purchased a new position in Caterpillar in the third quarter worth $36,000. Finally, POM Investment Strategies LLC increased its position in shares of 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 purchasing an additional 108 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $390.26 on Friday. The company’s fifty day moving average price is $385.77 and its 200-day moving average price is $355.46. 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 firm has a market capitalization of $188.42 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the company earned $5.52 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 20,774 shares of company stock worth $8,233,034. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CAT shares. UBS Group raised their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Truist Financial boosted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America lifted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $365.33.

About Caterpillar

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.