Octavia Wealth Advisors LLC Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Octavia Wealth Advisors LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 15.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 635 shares of the industrial products company’s stock after selling 116 shares during the period. Octavia Wealth Advisors LLC’s holdings in Caterpillar were worth $248,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares during the period. Alpha Cubed Investments LLC raised its holdings in Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares in the last quarter. Diversify Advisory Services LLC bought a new position in Caterpillar in the 1st quarter worth $926,000. Natixis Advisors LLC raised its holdings in Caterpillar by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after purchasing an additional 9,321 shares in the last quarter. Finally, Bailard Inc. raised its holdings in Caterpillar by 3.1% in the 2nd quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock worth $4,475,000 after purchasing an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CAT. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Raymond James assumed coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Evercore ISI decreased their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus target price of $347.56.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $402.02 on Friday. The firm’s 50-day moving average price is $357.45 and its 200-day moving average price is $349.37. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The company has a market cap of $196.61 billion, a PE ratio of 18.15, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $5.55 EPS. As a group, analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Insider Buying and Selling

In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred 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 transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by insiders.

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.