E&G Advisors LP Sells 100 Shares of Caterpillar Inc. (NYSE:CAT)

E&G Advisors LP cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,442 shares of the industrial products company’s stock after selling 100 shares during the period. E&G Advisors LP’s holdings in Caterpillar were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CAT. AA Financial Advisors LLC grew its position in Caterpillar by 4.4% in the 3rd quarter. AA Financial Advisors LLC now owns 3,596 shares of the industrial products company’s stock worth $1,406,000 after purchasing an additional 151 shares during the period. Alta Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 3rd quarter worth $206,000. Embree Financial Group bought a new stake in shares of Caterpillar in the third quarter worth $412,000. KFA Private Wealth Group LLC bought a new position in Caterpillar in the third quarter valued at about $304,000. Finally, Key Client Fiduciary Advisors LLC boosted its position in Caterpillar by 23.8% in the third quarter. Key Client Fiduciary Advisors LLC now owns 896 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.2 %

Shares of CAT opened at $393.86 on Friday. The firm has a market cap of $192.62 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. 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 Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The company has a 50 day simple moving average of $363.86 and a two-hundred day simple moving average of $350.34.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period last year, the company posted $5.55 earnings per share. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. UBS Group increased their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Bank of America boosted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average 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.