Caterpillar Inc. (NYSE:CAT) Position Lessened by Baldwin Investment Management LLC

Baldwin Investment Management LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,751 shares of the industrial products company’s stock after selling 302 shares during the quarter. Baldwin Investment Management LLC’s holdings in Caterpillar were worth $3,814,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the business’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 sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the 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 transaction, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,774 shares of company stock worth $8,233,034 over the last ninety days. 0.29% of the stock is currently owned by insiders.

Caterpillar Price Performance

NYSE CAT opened at $407.82 on Wednesday. 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 firm has a market capitalization of $196.90 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The company has a 50 day simple moving average of $389.05 and a 200-day simple moving average of $356.75. Caterpillar Inc. has a 52-week low of $246.01 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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 analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 earnings per share. Equities research analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. 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. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Finally, Truist Financial boosted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $365.33.

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.