Balboa Wealth Partners Sells 31 Shares of Caterpillar Inc. (NYSE:CAT)

Balboa Wealth Partners cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 975 shares of the industrial products company’s stock after selling 31 shares during the quarter. Balboa Wealth Partners’ holdings in Caterpillar were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CAT. Smallwood Wealth Investment Management LLC boosted its stake in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares in the last quarter. First Bank & Trust raised its holdings in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after buying an additional 27 shares during the last quarter. Washington Trust Bank lifted its stake in shares of Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after buying an additional 27 shares during the period. Pacifica Partners Inc. grew its holdings in shares of Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after buying an additional 28 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors increased its position in shares of Caterpillar by 0.8% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after acquiring an additional 28 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAT has been the topic of a number of recent research reports. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group increased their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $321.00 to $365.00 in a research report on Wednesday. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $365.33.

Caterpillar Trading Down 0.8 %

NYSE CAT opened at $384.08 on Friday. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The firm has a 50 day moving average of $380.76 and a two-hundred day moving average of $353.83. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $185.43 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the firm earned $5.52 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. 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 1.47%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction 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 completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 8.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock worth $9,251,912 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

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.