Good Life Advisors LLC Has $5.13 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Good Life Advisors LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 106.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,108 shares of the industrial products company’s stock after purchasing an additional 6,753 shares during the period. Good Life Advisors LLC’s holdings in Caterpillar were worth $5,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board grew its position in Caterpillar by 306.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after purchasing an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares in the last quarter. Swedbank AB purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $97,042,000. Capital International Investors lifted its holdings in Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares during the period. Finally, National Bank of Canada FI grew its stake in Caterpillar by 104.6% in the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after purchasing an additional 200,134 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. UBS Group raised their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Truist Financial raised their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average target price of $355.50.

Caterpillar Price Performance

NYSE CAT traded up $0.02 during trading hours on Thursday, hitting $393.64. The company had a trading volume of 451,881 shares, compared to its average volume of 2,636,181. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The firm has a 50 day simple moving average of $361.58 and a 200 day simple moving average of $349.92. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a market capitalization of $192.51 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the company earned $5.55 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Activity

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% 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.