KCM Investment Advisors LLC Sells 509 Shares of Caterpillar Inc. (NYSE:CAT)

KCM Investment Advisors LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,005 shares of the industrial products company’s stock after selling 509 shares during the quarter. KCM Investment Advisors LLC’s holdings in Caterpillar were worth $21,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legal & General Group Plc boosted its position in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. International Assets Investment Management LLC lifted its position in Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after purchasing an additional 198,123 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction dated 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 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. In the last quarter, insiders have sold 23,749 shares of company stock valued at $9,251,912. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CAT. UBS Group increased their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $365.33.

Caterpillar Trading Down 0.6 %

CAT stock traded down $2.25 during trading on Friday, hitting $385.11. The company had a trading volume of 281,499 shares, compared to its average volume of 2,605,344. The firm has a market capitalization of $185.93 billion, a P/E ratio of 17.96, a PEG ratio of 1.91 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50. The company has a 50 day simple moving average of $379.68 and a 200-day simple moving average of $353.59. 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 (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during 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 company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.52 EPS. As a group, research analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

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.