Caterpillar Inc. (NYSE:CAT) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 25.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,333 shares of the industrial products company’s stock after purchasing an additional 888 shares during the quarter. Larson Financial Group LLC’s holdings in Caterpillar were worth $1,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Swedbank AB grew its position in Caterpillar by 4.2% during the third quarter. Swedbank AB now owns 282,018 shares of the industrial products company’s stock worth $110,303,000 after buying an additional 11,487 shares during the period. Family Capital Management Inc. acquired a new stake in shares of Caterpillar in the third quarter valued at approximately $214,000. Pitcairn Co. boosted its position in Caterpillar by 2.5% during the third quarter. Pitcairn Co. now owns 3,961 shares of the industrial products company’s stock worth $1,549,000 after acquiring an additional 96 shares during the last quarter. Palisade Asset Management LLC boosted its position in Caterpillar by 0.3% during the third quarter. Palisade Asset Management LLC now owns 9,480 shares of the industrial products company’s stock worth $3,708,000 after acquiring an additional 33 shares during the last quarter. Finally, Canopy Partners LLC boosted its position in Caterpillar by 8.2% during the third quarter. Canopy Partners LLC now owns 2,485 shares of the industrial products company’s stock worth $972,000 after acquiring an additional 189 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 3.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated 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 $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,774 shares of company stock valued at $8,233,034 in the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT opened at $397.49 on Monday. The company has a fifty day simple moving average of $386.81 and a 200 day simple moving average of $356.00. The firm has a market cap of $191.91 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

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 for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.52 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAT. UBS Group raised their target price on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Bank of America increased their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup cut their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.