Caterpillar Inc. $CAT Shares Newly Purchased by Bernicke Wealth Management Ltd.

Bernicke Wealth Management Ltd. purchased a new position in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,376 shares of the industrial products company’s stock, valued at approximately $1,115,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Caterpillar during the 2nd quarter worth approximately $40,457,153,000. Bank of America Corp DE acquired a new position in shares of Caterpillar in the 2nd quarter valued at approximately $5,818,150,000. Bank of New York Mellon Corp purchased a new position in shares of Caterpillar during the 2nd quarter valued at approximately $3,192,710,000. Legal & General Group Plc purchased a new position in shares of Caterpillar during the 2nd quarter valued at approximately $2,783,451,000. Finally, Ascentis Wealth Management LLC boosted its stake in shares of Caterpillar by 110,539.0% during the 2nd quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company’s stock valued at $2,711,772,000 after buying an additional 2,515,867 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.9%

Shares of NYSE CAT opened at $599.80 on Friday. The stock’s 50 day moving average price is $740.65 and its two-hundred day moving average price is $805.20. Caterpillar Inc. has a 52-week low of $537.08 and a 52-week high of $1,073.46. The stock has a market capitalization of $274.46 billion, a P/E ratio of 23.53, a PEG ratio of 1.05 and a beta of 1.65. The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.14. The company had revenue of $20.68 billion for the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. Caterpillar’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.95 EPS. On average, analysts anticipate that Caterpillar Inc. will post 27.38 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio is currently 25.58%.

Insider Buying and Selling

In other news, Director David Maclennan acquired 350 shares of Caterpillar stock in a transaction that occurred on Thursday, November 12th. The shares were purchased at an average cost of $596.10 per share, for a total transaction of $208,635.00. Following the completion of the purchase, the director directly owned 8,773 shares of the company’s stock, valued at $5,229,585.30. This trade represents a 4.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the transaction, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by company insiders.

Recent Caterpillar Headlines

Investors following CAT have been watching these headlines:

• Neutral Sentiment: A Trefis article examines how much downside may remain, but the provided summary gives no forecast or specific price target. How Much Downside Is Left In Caterpillar Stock?
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Caterpillar investors. The release does not detail the claims, but the investigation could add legal uncertainty. Pomerantz Law Firm Investigates Claims
• Negative Sentiment: Michael Burry reportedly profited from a Caterpillar options trade and is maintaining the position, suggesting continued bearish bets. The article summary does not specify the position’s size or terms. Michael Burry just made a big move on Caterpillar stock

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings cut shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 29th. Truist Financial reaffirmed a “buy” rating and issued a $1,027.00 price target (down from $1,100.00) on shares of Caterpillar in a report on Friday, October 30th. Citigroup reduced their price objective on shares of Caterpillar from $950.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, President Capital started coverage on shares of Caterpillar in a report on Friday, September 18th. They set a “buy” rating and a $999.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $898.25.

Caterpillar Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.