Caterpillar Inc. (NYSE:CAT) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 17.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,811 shares of the industrial products company’s stock after selling 826 shares during the period. Portside Wealth Group LLC’s holdings in Caterpillar were worth $1,491,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Western Pacific Wealth Management LP purchased a new stake in Caterpillar during the 3rd quarter valued at about $83,000. Valley Brook Capital Group Inc. boosted its position in Caterpillar by 4.1% in the third quarter. Valley Brook Capital Group Inc. now owns 7,935 shares of the industrial products company’s stock valued at $3,104,000 after buying an additional 310 shares during the last quarter. Washington Trust Bank increased its holdings in Caterpillar by 1.2% in the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after buying an additional 27 shares during the period. Jmac Enterprises LLC raised its position in Caterpillar by 3.5% during the 3rd quarter. Jmac Enterprises LLC now owns 876 shares of the industrial products company’s stock worth $343,000 after buying an additional 30 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Caterpillar by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after acquiring an additional 5,371 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock opened at $408.21 on Friday. Caterpillar Inc. has a one year low of $233.82 and a one year high of $418.50. 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 firm’s 50 day moving average price is $376.06 and its 200-day moving average price is $352.50. The firm has a market cap of $197.94 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $5.52 earnings per share. As a group, equities research analysts predict that Caterpillar Inc. will post 21.77 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 1.38%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Transactions at Caterpillar

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 value of $1,119,081.60. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through the SEC website. In other Caterpillar 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 value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,092 shares of company stock valued at $4,059,378. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company 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. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, 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 research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $358.19.

Caterpillar Company 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.