Journey Advisory Group LLC Grows Position in Caterpillar Inc. (NYSE:CAT)

Journey Advisory Group LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 2.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,806 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Journey Advisory Group LLC’s holdings in Caterpillar were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. International Assets Investment Management LLC raised its stake in shares of Caterpillar by 39,534.0% in the third 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 purchasing an additional 2,131,276 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in Caterpillar by 3,319.7% during the 2nd 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 during the period. Swedbank AB purchased a new stake in shares of Caterpillar in the 1st quarter valued at $97,042,000. National Bank of Canada FI increased its stake in shares of Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after acquiring an additional 200,134 shares during the period. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Caterpillar by 28,321.2% during the second quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock worth $668,000 after purchasing an additional 199,948 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 2.0 %

Shares of Caterpillar stock opened at $397.49 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The firm has a market capitalization of $191.91 billion, a PE ratio of 18.43, a P/E/G ratio of 1.92 and a beta of 1.10. The firm’s 50-day moving average price is $386.81 and its 200 day moving average price is $355.92.

Caterpillar (NYSE:CAT) last released 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 firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter last year, the business earned $5.52 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts predict 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 $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Analyst Ratings Changes

Several brokerages have weighed in on CAT. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group upped their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Robert W. Baird lifted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $365.33.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,774 shares of company stock valued at $8,233,034. Corporate insiders own 0.29% 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.