Nabity Jensen Investment Management Inc Buys Shares of 2,859 Caterpillar Inc. (NYSE:CAT)

Nabity Jensen Investment Management Inc purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the third quarter, HoldingsChannel reports. The firm purchased 2,859 shares of the industrial products company’s stock, valued at approximately $1,118,000. Caterpillar comprises about 0.9% of Nabity Jensen Investment Management Inc’s investment portfolio, making the stock its 27th largest holding.

Other large investors have also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC lifted its stake in Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares during the last quarter. First Bank & Trust raised its holdings in Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 27 shares in the last quarter. Washington Trust Bank lifted its position in shares of Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after buying an additional 27 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in shares of Caterpillar by 1.6% in the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after buying an additional 28 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors grew its position in shares of Caterpillar by 0.8% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 28 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock opened at $395.03 on Monday. 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 $255.81 and a 12-month high of $418.50. The company has a market cap of $190.72 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10. The stock has a 50 day simple moving average of $392.84 and a 200-day simple moving average of $359.18.

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). The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $5.52 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date was Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAT. Bank of America upped 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. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. Robert W. Baird lifted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Truist Financial increased their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup cut their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $372.19.

Insider Buying and Selling

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

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.