Aljian Capital Management LLC Boosts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Aljian Capital Management LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 168.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,911 shares of the industrial products company’s stock after acquiring an additional 3,711 shares during the period. Caterpillar comprises approximately 0.5% of Aljian Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Aljian Capital Management LLC’s holdings in Caterpillar were worth $2,312,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CAT. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $36,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the 3rd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 16.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock valued at $9,251,912 in the last three months. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $384.07 on Monday. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The stock’s 50 day simple moving average is $381.86 and its two-hundred day simple moving average is $354.20. 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 stock has a market cap of $185.43 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.90 and a beta of 1.10.

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 the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.52 earnings per share. As a group, analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. Caterpillar’s payout ratio is 26.15%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $321.00 to $365.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Citigroup decreased 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. Finally, UBS Group boosted their target price on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Four research 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. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $365.33.

Caterpillar 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.