Bay Colony Advisory Group Inc d b a Bay Colony Advisors Reduces Stake in Caterpillar Inc. $CAT

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 15.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,928 shares of the industrial products company’s stock after selling 534 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Caterpillar were worth $1,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. Valeo Financial Advisors LLC lifted its holdings in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares during the period. Pacer Advisors Inc. lifted its holdings in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after buying an additional 1,364,183 shares during the period. Nuveen LLC purchased a new stake in Caterpillar in the 1st quarter worth approximately $391,788,000. Assenagon Asset Management S.A. lifted its stake in shares of Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after purchasing an additional 712,711 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,985 shares of company stock worth $25,559,300 over the last quarter. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Down 0.8%

Shares of NYSE:CAT opened at $578.28 on Friday. The stock has a fifty day simple moving average of $478.42 and a two-hundred day simple moving average of $408.38. The stock has a market capitalization of $270.91 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 3.33 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $596.21. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.17 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.0%. Caterpillar’s payout ratio is currently 30.72%.

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Barclays boosted their target price on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a report on Thursday. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price on the stock. Citigroup boosted their target price on shares of Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday. Finally, Truist Financial restated a “buy” rating and set a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $568.50.

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.