Cypress Capital Group Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Cypress Capital Group decreased its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,573 shares of the industrial products company’s stock after selling 58 shares during the period. Cypress Capital Group’s holdings in Caterpillar were worth $1,789,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. UBS Group increased their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $365.33.

Insiders Place Their Bets

In other news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction 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 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,774 shares of company stock valued at $8,233,034 in the last 90 days. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Down 0.2 %

NYSE:CAT opened at $381.44 on Thursday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $184.16 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a 1-year low of $241.81 and a 1-year high of $418.50. The business’s fifty day moving average price is $383.83 and its 200 day moving average price is $355.03.

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

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

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.