Caterpillar Inc. (NYSE:CAT) is Hixon Zuercher LLC’s 3rd Largest Position

Hixon Zuercher LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,180 shares of the industrial products company’s stock after selling 481 shares during the quarter. Caterpillar makes up 3.6% of Hixon Zuercher LLC’s portfolio, making the stock its 3rd largest position. Hixon Zuercher LLC’s holdings in Caterpillar were worth $9,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Focused Wealth Management Inc boosted its position in Caterpillar by 0.6% during the 3rd quarter. Focused Wealth Management Inc now owns 7,668 shares of the industrial products company’s stock valued at $2,999,000 after acquiring an additional 44 shares in the last quarter. MinichMacGregor Wealth Management LLC lifted its stake in shares of Caterpillar by 2.3% during the third quarter. MinichMacGregor Wealth Management LLC now owns 1,226 shares of the industrial products company’s stock worth $479,000 after buying an additional 28 shares during the period. Crestwood Advisors Group LLC grew its holdings in shares of Caterpillar by 1.0% during the third quarter. Crestwood Advisors Group LLC now owns 21,728 shares of the industrial products company’s stock valued at $8,498,000 after buying an additional 222 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in Caterpillar by 3.2% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 12,334 shares of the industrial products company’s stock worth $4,824,000 after acquiring an additional 386 shares during the period. Finally, Hanlon Investment Management Inc. grew its stake in Caterpillar by 16.3% during the 3rd quarter. Hanlon Investment Management Inc. now owns 1,262 shares of the industrial products company’s stock valued at $494,000 after purchasing an additional 177 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAT shares. UBS Group raised their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $358.19.

Caterpillar Price Performance

CAT stock opened at $383.37 on Wednesday. Caterpillar Inc. has a 1 year low of $233.57 and a 1 year high of $403.60. The firm has a market capitalization of $185.90 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The business has a 50 day simple moving average of $373.55 and a 200-day simple moving average of $351.65.

Caterpillar (NYSE:CAT) last issued its 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 company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the business earned $5.52 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 21.82 earnings per share for the current fiscal 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. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other 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 completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired 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 owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 9,792 shares of company stock worth $3,515,978. Company 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.