Tradition Wealth Management LLC Has $969,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

Tradition Wealth Management LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,478 shares of the industrial products company’s stock after purchasing an additional 140 shares during the quarter. Tradition Wealth Management LLC’s holdings in Caterpillar were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar during the second quarter worth $28,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar in the 3rd quarter valued at $36,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth $36,000. Finally, POM Investment Strategies LLC lifted its position in shares of Caterpillar by 2,160.0% during the 2nd 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 during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,589 shares of company stock worth $7,113,953. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 0.6 %

NYSE:CAT opened at $406.11 on Monday. Caterpillar Inc. has a 52 week low of $247.84 and a 52 week high of $418.50. 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 firm’s fifty day moving average is $391.37 and its 200-day moving average is $357.73. The firm has a market cap of $196.07 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.01 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the company posted $5.52 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CAT shares. Barclays boosted their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird boosted their target price on shares of 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 price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $365.33.

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.