Isthmus Partners LLC Buys Shares of 1,107 Caterpillar Inc. (NYSE:CAT)

Isthmus Partners LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,107 shares of the industrial products company’s stock, valued at approximately $433,000.

Several other hedge funds have also recently added to or reduced their stakes in CAT. Bbjs Financial Advisors LLC purchased a new stake in shares of Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the second quarter worth about $28,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar during the second quarter worth about $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar during the third quarter worth about $36,000. Finally, POM Investment Strategies LLC grew its holdings in shares of Caterpillar by 2,160.0% during the second 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 in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAT. Citigroup lowered their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Truist Financial lifted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays boosted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $365.33.

Caterpillar Trading Up 0.6 %

Shares of CAT stock opened at $406.11 on Friday. The stock has a market cap of $196.07 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a fifty-two week low of $247.84 and a fifty-two week high of $418.50. The firm’s 50 day moving average price is $391.37 and its two-hundred day moving average price is $357.75.

Caterpillar (NYSE:CAT) last announced 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the firm earned $5.52 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.39%. Caterpillar’s payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In related 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 value of $5,192,534.25. Following the sale, the insider now directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,589 shares of company stock valued at $7,113,953. Corporate insiders own 0.29% of the company’s stock.

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.