Mission Wealth Management LP purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,651 shares of the industrial products company’s stock, valued at approximately $246,000.
Several other large investors also recently bought and sold shares of the company. First Dallas Securities Inc. acquired a new position in shares of Caterpillar during the 3rd quarter worth $731,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Caterpillar during the 3rd quarter worth $255,000. Diversified Trust Co grew its stake in shares of Caterpillar by 158.2% during the 3rd quarter. Diversified Trust Co now owns 6,808 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 4,171 shares during the period. Country Trust Bank grew its stake in shares of Caterpillar by 20.2% during the 3rd quarter. Country Trust Bank now owns 138,002 shares of the industrial products company’s stock worth $20,583,000 after purchasing an additional 23,193 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in shares of Caterpillar by 2.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 52,579 shares of the industrial products company’s stock worth $7,842,000 after purchasing an additional 1,338 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Lange Bob De sold 1,575 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $147.00, for a total value of $231,525.00. Following the transaction, the insider now owns 30,798 shares in the company, valued at $4,527,306. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.
Shares of CAT stock opened at $168.75 on Friday. The firm has a market cap of $91.38 billion, a P/E ratio of 22.65, a PEG ratio of 2.59 and a beta of 1.05. Caterpillar Inc. has a 1-year low of $87.50 and a 1-year high of $170.51. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.50 and a quick ratio of 1.05. The firm’s 50-day simple moving average is $150.71 and its 200-day simple moving average is $131.34.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.37. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $9.40 billion. Caterpillar had a net margin of 8.90% and a return on equity of 30.52%. The company’s revenue was down 30.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.83 EPS. Analysts expect that Caterpillar Inc. will post 5.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Monday, October 26th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $4.12 annualized dividend and a dividend yield of 2.44%. Caterpillar’s payout ratio is currently 37.25%.
A number of brokerages recently commented on CAT. Wells Fargo & Company raised shares of Caterpillar from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $160.00 to $220.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Caterpillar from $162.00 to $171.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Oppenheimer began coverage on shares of Caterpillar in a research note on Sunday, August 2nd. They issued a “hold” rating on the stock. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a research note on Wednesday, July 15th. Finally, Bank of America raised shares of Caterpillar from an “underperform” rating to a “neutral” rating and set a $135.00 price objective on the stock in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $145.37.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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