Empowered Funds LLC Sells 113 Shares of Caterpillar Inc. (NYSE:CAT)

Empowered Funds LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,315 shares of the industrial products company’s stock after selling 113 shares during the quarter. Empowered Funds LLC’s holdings in Caterpillar were worth $20,070,000 at the end of the most recent reporting period.

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

Caterpillar Trading Down 0.1 %

Shares of CAT opened at $386.85 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a market cap of $186.77 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The business has a 50-day moving average of $379.68 and a 200 day moving average of $353.59.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the company earned $5.52 EPS. The company’s revenue was down 4.2% on a year-over-year basis. As a group, research analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity

In other news, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lange Bob De sold 12,657 shares of the firm’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 directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock worth $9,251,912 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CAT shares. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $321.00 to $365.00 in a report on Wednesday. Finally, Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently 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.