Channel Wealth LLC Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Channel Wealth LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,468 shares of the industrial products company’s stock after buying an additional 27 shares during the quarter. Channel Wealth LLC’s holdings in Caterpillar were worth $533,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Fairscale Capital LLC purchased a new position in Caterpillar in the second quarter valued at about $36,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar in the 3rd quarter worth approximately $36,000. Kimelman & Baird LLC raised its stake in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. HWG Holdings LP purchased a new stake in Caterpillar during the second quarter valued at approximately $54,000. Finally, SOA Wealth Advisors LLC. boosted its stake in Caterpillar by 47.2% in the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAT. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Citigroup lowered their price target on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group upped their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Truist Financial lowered their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $380.60.

Caterpillar Stock Performance

Shares of CAT stock opened at $380.85 on Friday. 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 Inc. has a 12-month low of $276.94 and a 12-month high of $418.50. The business’s 50 day moving average is $380.24 and its two-hundred day moving average is $366.36. The company has a market capitalization of $183.87 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.72 and a beta of 1.13.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $5.52 EPS. Analysts expect that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Buying and Selling

In other news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,868 shares of company stock worth $9,679,489. Insiders own 0.29% of the company’s stock.

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.