Stone Point Wealth LLC Has $2.63 Million Stake in Caterpillar Inc. (NYSE:CAT)

Stone Point Wealth LLC trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,721 shares of the industrial products company’s stock after selling 95 shares during the quarter. Stone Point Wealth LLC’s holdings in Caterpillar were worth $2,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Fairscale Capital LLC bought a new stake in shares of Caterpillar in the second quarter valued at about $36,000. POM Investment Strategies LLC boosted its position in shares of Caterpillar by 2,160.0% in the second 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 during the period. Finally, TruNorth Capital Management LLC boosted its position in shares of Caterpillar by 215.4% in the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 84 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their target price 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. UBS Group upped their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Three 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. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $358.19.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,092 shares of company stock valued at $4,059,378. 0.29% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $402.50 on Friday. The business has a 50 day moving average of $376.06 and a 200-day moving average of $352.50. Caterpillar Inc. has a 1 year low of $233.82 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 company has a market capitalization of $195.17 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 firm had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the company earned $5.52 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 21.77 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 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.