TRUE Private Wealth Advisors Sells 1,596 Shares of Caterpillar Inc. (NYSE:CAT)

TRUE Private Wealth Advisors trimmed its position in Caterpillar Inc. (NYSE:CAT) by 36.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,724 shares of the industrial products company’s stock after selling 1,596 shares during the period. TRUE Private Wealth Advisors’ holdings in Caterpillar were worth $1,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the second quarter worth $28,000. Fairscale Capital LLC bought a new position in Caterpillar in the second quarter valued at $36,000. Capital Performance Advisors LLP acquired a new stake in Caterpillar in the 3rd quarter valued at $36,000. Finally, POM Investment Strategies LLC lifted its position in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 0.6 %

Shares of CAT stock opened at $406.11 on Friday. Caterpillar Inc. has a 12-month low of $247.84 and a 12-month high of $418.50. The firm has a 50 day moving average price of $391.37 and a two-hundred day moving average price of $357.75. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $196.07 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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 firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.52 earnings per share. As a group, analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a $1.41 dividend. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.39%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Buying and Selling

In other news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This represents a 20.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were 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 directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,589 shares of company stock valued at $7,113,953. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CAT shares. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Truist Financial boosted their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup dropped their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Barclays boosted 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. Finally, UBS Group increased their price target 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. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $365.33.

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.