Good Life Advisors LLC Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Good Life Advisors LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 106.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,108 shares of the industrial products company’s stock after buying an additional 6,753 shares during the period. Good Life Advisors LLC’s holdings in Caterpillar were worth $5,126,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Thompson Investment Management Inc. purchased a new position in Caterpillar in the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Fairman Group LLC purchased a new position in Caterpillar in the 1st quarter worth approximately $29,000. Finally, Fairscale Capital LLC purchased a new position in Caterpillar in the 2nd quarter worth approximately $36,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CAT. Raymond James began coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Barclays boosted their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Truist Financial boosted their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Citigroup boosted their target price on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar Stock Up 0.0 %

CAT stock traded up $0.02 on Thursday, reaching $393.64. 451,881 shares of the company traded hands, compared to its average volume of 2,636,181. The firm has a fifty day simple moving average of $361.58 and a 200-day simple moving average of $349.92. The company has a market cap of $192.51 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

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

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on 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 purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

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.