Aljian Capital Management LLC Has $2.31 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Aljian Capital Management LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 168.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,911 shares of the industrial products company’s stock after buying an additional 3,711 shares during the period. Caterpillar accounts for 0.5% of Aljian Capital Management LLC’s holdings, making the stock its 25th largest position. Aljian Capital Management LLC’s holdings in Caterpillar were worth $2,312,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Fairscale Capital LLC bought a new position in Caterpillar in the second quarter valued at approximately $36,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the third quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC lifted its stake in Caterpillar by 2,160.0% during 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 last quarter. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CAT. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial lifted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group increased their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, Robert W. Baird boosted their target price 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. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $365.33.

Insiders Place Their Bets

In related news, CAO William E. Schaupp sold 968 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 36.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 4,976 shares in the company, valued at approximately $2,079,968. The trade was a 20.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $384.07 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $185.43 billion, a PE ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10. The firm has a fifty day simple moving average of $381.86 and a 200 day simple moving average of $354.20. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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). The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.52 earnings per share. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

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.