Ashton Thomas Securities LLC Takes $220,000 Position in Caterpillar Inc. (NYSE:CAT)

Ashton Thomas Securities LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 562 shares of the industrial products company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in Caterpillar during the 1st quarter worth approximately $433,000. Sei Investments Co. grew its stake in Caterpillar by 14.1% in the 1st quarter. Sei Investments Co. now owns 114,337 shares of the industrial products company’s stock valued at $41,899,000 after acquiring an additional 14,121 shares during the period. Headlands Technologies LLC grew its stake in Caterpillar by 10.6% in the 1st quarter. Headlands Technologies LLC now owns 982 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 94 shares during the period. Koshinski Asset Management Inc. boosted its stake in Caterpillar by 13.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 17,249 shares of the industrial products company’s stock worth $6,320,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Rogco LP boosted its stake in Caterpillar by 2.8% during the 1st quarter. Rogco LP now owns 3,083 shares of the industrial products company’s stock worth $1,130,000 after purchasing an additional 85 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CAT shares. Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. UBS Group boosted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $362.40.

Caterpillar Price Performance

Caterpillar stock opened at $396.79 on Tuesday. Caterpillar Inc. has a 12 month low of $238.88 and a 12 month high of $418.50. 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 $376.80 and a 200-day simple moving average of $352.60. The stock has a market capitalization of $191.57 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.52 EPS. Equities analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,749 shares of company stock valued at $9,251,912. 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.