Caterpillar Inc. (NYSE:CAT) Stake Decreased by Peterson Wealth Management

Peterson Wealth Management lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,604 shares of the industrial products company’s stock after selling 30 shares during the period. Peterson Wealth Management’s holdings in Caterpillar were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Fisher Asset Management LLC increased its stake in shares of Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after acquiring an additional 205,012 shares during the period. Legal & General Group Plc increased its stake in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Caterpillar by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after acquiring an additional 64,452 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after acquiring an additional 8,088 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after acquiring an additional 165,358 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.0 %

Shares of NYSE:CAT opened at $403.70 on Friday. The firm has a fifty day moving average of $390.62 and a two-hundred day moving average of $357.40. The firm has a market capitalization of $194.91 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $246.01 and a 12-month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last issued its earnings results 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the business earned $5.52 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 21.67 EPS 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 paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the sale, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,589 shares of company stock valued at $7,113,953. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CAT shares. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Citigroup decreased their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. UBS Group lifted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Truist Financial lifted their price objective 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.