Platform Technology Partners Sells 100 Shares of Caterpillar Inc. (NYSE:CAT)

Platform Technology Partners decreased its stake in Caterpillar Inc. (NYSE:CAT) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,292 shares of the industrial products company’s stock after selling 100 shares during the quarter. Platform Technology Partners’ holdings in Caterpillar were worth $896,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar in the second quarter worth about $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar during the second quarter valued at approximately $36,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar during the third quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC raised its holdings in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CAT shares. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $362.40.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock worth $9,251,912 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Caterpillar Trading Up 0.9 %

NYSE:CAT opened at $396.79 on Tuesday. The company has a market capitalization of $191.57 billion, a P/E ratio of 18.40, a PEG ratio of 1.94 and a beta of 1.10. 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 12 month low of $238.88 and a 12 month high of $418.50. The firm has a fifty day simple moving average of $377.62 and a 200-day simple moving average of $353.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.52 EPS. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, October 21st. 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.