Caterpillar Inc. (NYSE:CAT) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,110 shares of the industrial products company’s stock after selling 567 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Caterpillar were worth $2,781,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CAT. Kovitz Investment Group Partners LLC lifted its position in Caterpillar by 4.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 113,044 shares of the industrial products company’s stock worth $41,763,000 after acquiring an additional 4,779 shares during the period. Virtus Investment Advisers Inc. raised its stake in shares of Caterpillar by 281.3% in the third quarter. Virtus Investment Advisers Inc. now owns 610 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 450 shares during the last quarter. Weaver Consulting Group acquired a new stake in shares of Caterpillar during the third quarter worth about $212,000. Texas Capital Bank Wealth Management Services Inc increased its holdings in Caterpillar by 1.7% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 26,274 shares of the industrial products company’s stock worth $10,276,000 after buying an additional 440 shares during the period. Finally, Stevens Capital Management LP purchased a new position in Caterpillar during the 3rd quarter worth approximately $4,460,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup dropped their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Bank of America raised their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $372.19.

Insider Activity at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 36.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the transaction, the insider now directly owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,868 shares of company stock valued at $9,679,489. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $395.03 on Friday. The business’s 50 day moving average price is $392.84 and its 200-day moving average price is $359.16. Caterpillar Inc. has a 1 year low of $255.81 and a 1 year high of $418.50. 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 $190.72 billion, a PE ratio of 18.31, a P/E/G ratio of 1.97 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released 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). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.52 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a $1.41 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

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.