KG&L Capital Management LLC Has $1.39 Million Stake in Caterpillar Inc. (NYSE:CAT)

KG&L Capital Management LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.3% in the third quarter, Holdings Channel reports. The firm owned 3,585 shares of the industrial products company’s stock after acquiring an additional 335 shares during the period. KG&L Capital Management LLC’s holdings in Caterpillar were worth $1,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares during the last quarter. Alpha Cubed Investments LLC grew its position in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the last quarter. First Affirmative Financial Network acquired a new position in shares of Caterpillar during the 3rd quarter worth about $204,000. Inspire Advisors LLC boosted its stake in Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares during the period. Finally, Natixis Advisors LLC grew its holdings in Caterpillar by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after buying an additional 9,321 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 0.9 %

Shares of CAT stock opened at $379.63 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $184.08 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $232.88 and a 12-month high of $403.60. The firm has a 50-day moving average price of $372.40 and a 200 day moving average price of $351.32.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the company earned $5.52 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. Research analysts forecast that Caterpillar Inc. will post 21.82 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday. Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Bank of America raised their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $357.56.

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.