Sax Wealth Advisors LLC Has $969,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Sax Wealth Advisors LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,478 shares of the industrial products company’s stock after selling 60 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Caterpillar were worth $969,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Caterpillar by 3.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 277,926 shares of the industrial products company’s stock worth $108,702,000 after purchasing an additional 9,403 shares during the last quarter. TruWealth Advisors LLC increased its position in shares of Caterpillar by 4.5% during the 3rd quarter. TruWealth Advisors LLC now owns 23,240 shares of the industrial products company’s stock worth $9,090,000 after purchasing an additional 992 shares during the last quarter. Ellsworth Advisors LLC increased its position in shares of Caterpillar by 2.3% during the 3rd quarter. Ellsworth Advisors LLC now owns 17,623 shares of the industrial products company’s stock worth $6,893,000 after purchasing an additional 397 shares during the last quarter. Vista Investment Partners LLC boosted its stake in shares of Caterpillar by 0.3% during the 3rd quarter. Vista Investment Partners LLC now owns 12,365 shares of the industrial products company’s stock worth $4,836,000 after acquiring an additional 42 shares during the period. Finally, Drake & Associates LLC boosted its stake in shares of Caterpillar by 30.1% during the 3rd quarter. Drake & Associates LLC now owns 924 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $349.00 to $332.00 in a research note on Monday. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Evercore ISI reduced their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Truist Financial boosted their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $355.50.

Caterpillar Price Performance

Caterpillar stock opened at $394.54 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The stock has a market capitalization of $192.95 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The stock has a fifty day moving average of $362.75 and a 200-day moving average of $350.23.

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

Caterpillar Announces Dividend

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

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 in the company, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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.