Ibex Wealth Advisors cut its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,681 shares of the industrial products company’s stock after selling 3,284 shares during the period. Ibex Wealth Advisors’ holdings in Caterpillar were worth $5,416,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC raised its holdings in Caterpillar by 0.7% in the second quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company’s stock valued at $1,741,000 after acquiring an additional 11 shares in the last quarter. Inspirion Wealth Advisors LLC raised its stake in Caterpillar by 1.2% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock valued at $936,000 after acquiring an additional 11 shares in the last quarter. Bell Bank grew its position in Caterpillar by 0.6% in the 2nd quarter. Bell Bank now owns 1,865 shares of the industrial products company’s stock valued at $1,986,000 after buying an additional 11 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Caterpillar by 0.6% during the second quarter. Harbor Investment Advisory LLC now owns 2,057 shares of the industrial products company’s stock valued at $2,190,000 after acquiring an additional 13 shares during the period. Finally, GoalVest Advisory LLC lifted its holdings in shares of Caterpillar by 6.1% in the second quarter. GoalVest Advisory LLC now owns 225 shares of the industrial products company’s stock valued at $240,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. President Capital started coverage on Caterpillar in a research report on Friday, September 18th. They issued a “buy” rating and a $999.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Sanford C. Bernstein reissued a “market perform” rating and issued a $749.00 price target on shares of Caterpillar in a report on Wednesday, October 14th. Erste Group Bank lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Zacks Research lowered shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $898.25.
Caterpillar Stock Down 0.9%
Shares of CAT traded down $5.48 on Friday, hitting $599.80. The company’s stock had a trading volume of 2,287,211 shares, compared to its average volume of 3,857,929. Caterpillar Inc. has a fifty-two week low of $537.08 and a fifty-two week high of $1,073.46. The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. The firm’s fifty day moving average price is $740.65 and its 200-day moving average price is $805.20. The firm has a market capitalization of $274.46 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.05 and a beta of 1.65.
Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $7.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.14. The company had revenue of $20.68 billion for the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company earned $4.95 earnings per share. On average, equities research analysts expect that Caterpillar Inc. will post 27.38 EPS for the current year.
Caterpillar Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio (DPR) is presently 25.58%.
Insider Buying and Selling
In related news, CEO Joseph E. Creed sold 32,401 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the sale, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director C Jr acquired 1,000 shares of the stock in a transaction on Monday, November 2nd. The shares were purchased at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the transaction, the director directly owned 4,714 shares in the company, valued at approximately $2,924,518.46. This trade represents a 26.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.33% of the stock is currently owned by insiders.
Key Caterpillar News
These are some of the CAT news items that stood out recently:
- Positive Sentiment: Investor Kevin Simpson reportedly bought more CAT shares, a favorable sentiment signal, though the article does not provide the rationale or size of the purchase. Trade tracker: Kevin Simpson buys more Caterpillar
- Neutral Sentiment: A Trefis article examines how much downside may remain, but the provided summary gives no forecast or specific price target. How Much Downside Is Left In Caterpillar Stock?
- Negative Sentiment: Michael Burry reportedly profited from a Caterpillar options trade and is maintaining the position, suggesting continued bearish bets. The article summary does not specify the position’s size or terms. Michael Burry just made a big move on Caterpillar stock
Caterpillar Company Profile
Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.
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