563 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Renaissance Investment Group LLC

Renaissance Investment Group LLC bought a new position in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 563 shares of the industrial products company’s stock, valued at approximately $220,000.

Several other hedge funds also recently made changes to their positions in CAT. Sunpointe LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $210,000. Beacon Financial Group increased its stake in shares of Caterpillar by 3.9% in the fourth quarter. Beacon Financial Group now owns 1,085 shares of the industrial products company’s stock worth $321,000 after buying an additional 41 shares during the period. EP Wealth Advisors LLC increased its position in Caterpillar by 4.8% during the 4th quarter. EP Wealth Advisors LLC now owns 8,878 shares of the industrial products company’s stock valued at $2,625,000 after purchasing an additional 404 shares during the period. Scarborough Advisors LLC purchased a new position in Caterpillar during the 4th quarter valued at $77,000. Finally, Pineridge Advisors LLC purchased a new position in Caterpillar during the 4th quarter valued at $36,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock worth $2,665,760. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup boosted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America upped their target price 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. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus target price of $347.56.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $402.02 on Friday. The stock has a market cap of $196.61 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.85 and a beta of 1.10. The firm’s 50-day moving average is $357.45 and its 200 day moving average is $349.37. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.55 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

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.