Caterpillar Inc. (NYSE:CAT) Shares Bought by Pitcairn Co.

Pitcairn Co. grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,961 shares of the industrial products company’s stock after acquiring an additional 96 shares during the period. Pitcairn Co.’s holdings in Caterpillar were worth $1,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Legal & General Group Plc raised its position in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after acquiring an additional 8,088 shares during the period. Dimensional Fund Advisors LP grew its stake in Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after acquiring an additional 165,358 shares during the period. International Assets Investment Management LLC grew its stake in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after acquiring an additional 2,131,276 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after acquiring an additional 198,123 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the business’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 transaction, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,774 shares of company stock worth $8,233,034 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Truist Financial lifted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Bank of America boosted their price objective 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. Finally, Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $365.33.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $397.49 on Friday. 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 simple moving average is $386.81 and its 200-day simple moving average is $355.84. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The firm has a market cap of $191.91 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm posted $5.52 earnings per share. Caterpillar’s revenue was down 4.2% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Caterpillar 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.