Ritholtz Wealth Management Has $2.99 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Ritholtz Wealth Management lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,643 shares of the industrial products company’s stock after buying an additional 1,250 shares during the period. Ritholtz Wealth Management’s holdings in Caterpillar were worth $2,989,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in Caterpillar in the fourth quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the second quarter valued at $28,000. Finally, Fairman Group LLC acquired a new position in shares of Caterpillar during the first quarter worth $29,000. 70.98% of the stock is currently owned by institutional investors.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost 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 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of CAT stock opened at $402.02 on Friday. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60. The firm has a market capitalization of $196.61 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The firm has a fifty day simple moving average of $357.45 and a two-hundred day simple moving average of $349.37. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The business 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%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $5.55 EPS. Analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. UBS Group raised their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Citigroup upped their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $347.56.

Caterpillar Company 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.