Patrick M Sweeney & Associates Inc. Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Patrick M Sweeney & Associates Inc. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,759 shares of the industrial products company’s stock after acquiring an additional 46 shares during the period. Caterpillar makes up 1.1% of Patrick M Sweeney & Associates Inc.’s portfolio, making the stock its 18th biggest position. Patrick M Sweeney & Associates Inc.’s holdings in Caterpillar were worth $1,470,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the second quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar during the second quarter worth about $28,000. Fairman Group LLC bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $29,000. Fairscale Capital LLC bought a new stake in Caterpillar in the 2nd quarter valued at about $36,000. Finally, POM Investment Strategies LLC lifted its holdings in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAT shares. Citigroup raised their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. 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 report on Wednesday, October 9th. Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $355.50.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s 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 transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. 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 company insiders.

Caterpillar Trading Down 0.7 %

NYSE:CAT opened at $385.59 on Thursday. The company’s 50 day moving average is $366.90 and its 200-day moving average is $350.61. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60. The firm has a market cap of $188.57 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released 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 company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $5.55 earnings per share. Equities analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

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.