Caterpillar Inc. (NYSE:CAT) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP reduced its position in Caterpillar Inc. (NYSE:CAT) by 4.8% in the 3rd quarter, Holdings Channel reports. The fund owned 4,982 shares of the industrial products company’s stock after selling 250 shares during the period. L. Roy Papp & Associates LLP’s holdings in Caterpillar were worth $1,949,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Park Edge Advisors LLC increased its stake in Caterpillar by 19.9% in the third quarter. Park Edge Advisors LLC now owns 2,421 shares of the industrial products company’s stock valued at $947,000 after purchasing an additional 402 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Caterpillar by 7.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 9,572 shares of the industrial products company’s stock worth $3,744,000 after acquiring an additional 660 shares during the period. Valley National Advisers Inc. boosted its position in shares of Caterpillar by 347.7% in the third quarter. Valley National Advisers Inc. now owns 6,585 shares of the industrial products company’s stock worth $2,574,000 after acquiring an additional 5,114 shares during the last quarter. Amarillo National Bank increased its position in Caterpillar by 1.6% during the third quarter. Amarillo National Bank now owns 4,334 shares of the industrial products company’s stock worth $1,695,000 after purchasing an additional 67 shares during the last quarter. Finally, Modera Wealth Management LLC raised its stake in Caterpillar by 1.8% during the third quarter. Modera Wealth Management LLC now owns 6,942 shares of the industrial products company’s stock worth $2,715,000 after purchasing an additional 122 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Down 0.3 %

NYSE CAT traded down $1.09 during mid-day trading on Friday, reaching $385.97. 1,606,883 shares of the company’s stock traded hands, compared to its average volume of 2,622,578. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The company has a fifty day simple moving average of $368.57 and a 200-day simple moving average of $350.81. The company has a market cap of $188.76 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.55 earnings per share. As a group, equities research analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Announces Dividend

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 paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s payout ratio is 25.46%.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group lifted their price objective on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $355.50.

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.