Caterpillar Inc. (NYSE:CAT) Shares Acquired by Altus Wealth Group LLC

Altus Wealth Group LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 650 shares of the industrial products company’s stock after purchasing an additional 43 shares during the period. Altus Wealth Group LLC’s holdings in Caterpillar were worth $254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Canada Pension Plan Investment Board boosted its stake in Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after buying an additional 307,479 shares during the period. Altshuler Shaham Ltd boosted its stake in shares of Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares during the period. Swedbank AB purchased a new position in shares of Caterpillar in the first quarter valued at approximately $97,042,000. Capital International Investors raised its holdings in Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after acquiring an additional 244,253 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after acquiring an additional 200,134 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.0 %

NYSE:CAT traded up $0.06 during trading hours on Wednesday, hitting $388.52. The stock had a trading volume of 229,602 shares, compared to its average volume of 2,624,976. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The business has a 50 day simple moving average of $365.94 and a two-hundred day simple moving average of $350.37. The company has a market cap of $190.01 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. Caterpillar’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $5.55 EPS. Analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several analyst reports. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $355.50.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is 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.