Cambridge Advisors Inc. Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Cambridge Advisors Inc. lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,424 shares of the industrial products company’s stock after selling 101 shares during the quarter. Caterpillar makes up about 0.8% of Cambridge Advisors Inc.’s holdings, making the stock its 21st largest position. Cambridge Advisors Inc.’s holdings in Caterpillar were worth $3,686,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC grew its holdings in shares of Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares during the last quarter. Pacifica Partners Inc. grew its holdings in shares of Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after purchasing an additional 28 shares during the last quarter. Souders Financial Advisors grew its holdings in shares of Caterpillar by 0.8% during the second quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock worth $1,218,000 after purchasing an additional 29 shares during the last quarter. Hilltop National Bank grew its holdings in shares of Caterpillar by 1.2% during the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after purchasing an additional 31 shares during the last quarter. Finally, Procyon Advisors LLC grew its holdings in shares of Caterpillar by 0.3% during the third quarter. Procyon Advisors LLC now owns 11,659 shares of the industrial products company’s stock worth $4,560,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAT. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial increased their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup increased their target price on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $355.50.

Caterpillar Trading Up 0.3 %

Shares of Caterpillar stock opened at $386.81 on Friday. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market cap of $189.17 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a 50-day moving average of $367.72 and a two-hundred day moving average of $350.86.

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

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

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.