Caterpillar Inc. (NYSE:CAT) Stock Position Decreased by WealthPLAN Partners LLC

WealthPLAN Partners LLC trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 81.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,159 shares of the industrial products company’s stock after selling 5,244 shares during the period. WealthPLAN Partners LLC’s holdings in Caterpillar were worth $453,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. First National Trust Co increased its position in shares of Caterpillar by 0.3% in the third quarter. First National Trust Co now owns 48,965 shares of the industrial products company’s stock worth $19,151,000 after acquiring an additional 142 shares in the last quarter. Harbour Investments Inc. lifted its stake in Caterpillar by 2.9% in the 3rd quarter. Harbour Investments Inc. now owns 6,548 shares of the industrial products company’s stock worth $2,561,000 after acquiring an additional 182 shares in the last quarter. Apollon Wealth Management LLC boosted its position in Caterpillar by 0.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 22,841 shares of the industrial products company’s stock worth $8,934,000 after acquiring an additional 180 shares during the period. Everhart Financial Group Inc. grew its position in Caterpillar by 13.2% during the third quarter. Everhart Financial Group Inc. now owns 3,856 shares of the industrial products company’s stock valued at $1,508,000 after purchasing an additional 450 shares in the last quarter. Finally, Lynx Investment Advisory raised its holdings in shares of Caterpillar by 6.5% during the third quarter. Lynx Investment Advisory now owns 1,076 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $393.08 on Wednesday. The firm has a market cap of $189.78 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The firm’s fifty day moving average is $377.62 and its 200-day moving average is $353.01. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a 52 week low of $238.88 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate 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 business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $5.52 EPS. Sell-side analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

CAT has been the subject of several research reports. Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group lifted their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. 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 report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $362.40.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock worth $9,251,912 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

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.