Ellsworth Advisors LLC Boosts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Ellsworth Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,623 shares of the industrial products company’s stock after buying an additional 397 shares during the period. Caterpillar makes up about 1.8% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Ellsworth Advisors LLC’s holdings in Caterpillar were worth $6,893,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its stake in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after purchasing an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd grew its position in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after buying an additional 266,969 shares in the last quarter. Swedbank AB purchased a new position in shares of Caterpillar during the first quarter valued at $97,042,000. Capital International Investors raised its holdings in shares of Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after acquiring an additional 244,253 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in 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. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT opened at $394.54 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a 50-day moving average of $362.75 and a two-hundred day moving average of $350.23. The stock has a market cap of $192.95 billion, a P/E ratio of 17.81, a P/E/G 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.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the prior year, the firm earned $5.55 earnings per share. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

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

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price 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 position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAT has been the subject of several recent research reports. Bank of America boosted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Citigroup boosted their price target on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James started coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $355.50.

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.