Asset Management Group Inc. Trims Stake in Caterpillar Inc. (NYSE:CAT)

Asset Management Group Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% during the third quarter, Holdings Channel.com reports. The fund owned 10,739 shares of the industrial products company’s stock after selling 318 shares during the period. Asset Management Group Inc.’s holdings in Caterpillar were worth $4,200,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the second quarter worth $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the second quarter worth $36,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar in the third quarter worth $36,000. Finally, POM Investment Strategies LLC lifted its holdings 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 worth $38,000 after buying an additional 108 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,774 shares of company stock valued at $8,233,034 in the last three months. 0.29% of the stock is owned by insiders.

Caterpillar Stock Up 2.3 %

NYSE:CAT opened at $390.26 on Friday. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The stock has a market capitalization of $188.42 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.89 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company’s 50-day simple moving average is $385.77 and its 200-day simple moving average is $355.46.

Caterpillar (NYSE:CAT) last released its quarterly 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). The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.52 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

Analysts Set New Price Targets

CAT has been the topic of a number of recent research reports. Bank of America upped their price target 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. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group upped their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $365.33.

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.