Caterpillar Inc. (NYSE:CAT) Shares Purchased by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,935 shares of the industrial products company’s stock after purchasing an additional 1,157 shares during the period. Baker Avenue Asset Management LP’s holdings in Caterpillar were worth $19,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc grew its holdings in Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after purchasing an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,749 shares of company stock valued at $9,251,912. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of a number of recent research reports. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI decreased their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird raised their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Citigroup cut their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $362.40.

Caterpillar Trading Down 3.6 %

Shares of Caterpillar stock traded down $14.84 during trading hours on Friday, hitting $393.37. The company’s stock had a trading volume of 3,345,862 shares, compared to its average volume of 2,292,855. The business has a fifty day moving average of $376.80 and a 200 day moving average of $352.75. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 1-year low of $233.82 and a 1-year high of $418.50. The company has a market capitalization of $190.75 billion, a PE ratio of 18.24, a P/E/G ratio of 2.06 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.52 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid 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 1.43%. Caterpillar’s dividend payout ratio is currently 26.15%.

About Caterpillar

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.