Jacobsen Capital Management Makes New $216,000 Investment in Caterpillar Inc. (NYSE:CAT)

Jacobsen Capital Management bought a new position in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 551 shares of the industrial products company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $36,000. POM Investment Strategies LLC increased its position in shares of Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the last quarter. Finally, TruNorth Capital Management LLC increased its position in shares of Caterpillar by 215.4% during the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research analyst reports. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup lifted their price objective on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $355.50.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, 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 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, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The trade was 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 Stock Down 0.7 %

Caterpillar stock opened at $387.77 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a market capitalization of $189.64 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The stock’s fifty day moving average is $370.38 and its two-hundred day moving average is $350.94.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.55 earnings per share. Analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

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.