Austin Private Wealth LLC Sells 76 Shares of Caterpillar Inc. (NYSE:CAT)

Austin Private Wealth LLC cut its position in Caterpillar Inc. (NYSE:CAT) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,305 shares of the industrial products company’s stock after selling 76 shares during the period. Austin Private Wealth LLC’s holdings in Caterpillar were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Crestwood Advisors Group LLC increased its stake in Caterpillar by 1.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 21,728 shares of the industrial products company’s stock worth $8,498,000 after buying an additional 222 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in shares of Caterpillar by 3.2% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 12,334 shares of the industrial products company’s stock worth $4,824,000 after purchasing an additional 386 shares in the last quarter. Hanlon Investment Management Inc. raised its stake in Caterpillar by 16.3% during the 3rd quarter. Hanlon Investment Management Inc. now owns 1,262 shares of the industrial products company’s stock valued at $494,000 after purchasing an additional 177 shares during the period. Pittenger & Anderson Inc. lifted its holdings in Caterpillar by 0.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 37,370 shares of the industrial products company’s stock worth $14,616,000 after purchasing an additional 200 shares in the last quarter. Finally, Clarity Financial LLC bought a new position in Caterpillar in the 3rd quarter worth approximately $234,000. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $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 7,128 shares of company stock worth $2,506,748 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 1.8 %

Shares of Caterpillar stock traded up $6.62 during trading on Tuesday, hitting $383.14. The stock had a trading volume of 213,052 shares, compared to its average volume of 2,609,093. The stock has a market cap of $185.78 billion, a PE ratio of 17.46, a PEG ratio of 1.86 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $233.57 and a 12 month high of $403.60. The firm’s fifty day simple moving average is $372.91 and its 200-day simple moving average is $351.45. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (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 business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter last year, the firm earned $5.52 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.82 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.47%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAT. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Citigroup reduced 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. JPMorgan Chase & Co. increased their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $358.19.

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.