KCM Investment Advisors LLC Sells 509 Shares of Caterpillar Inc. (NYSE:CAT)

KCM Investment Advisors LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,005 shares of the industrial products company’s stock after selling 509 shares during the period. KCM Investment Advisors LLC’s holdings in Caterpillar were worth $21,122,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Empirical Finance LLC grew its holdings in Caterpillar by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 17,728 shares of the industrial products company’s stock worth $6,934,000 after acquiring an additional 267 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Caterpillar by 0.5% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,238 shares of the industrial products company’s stock worth $2,831,000 after acquiring an additional 34 shares during the last quarter. Vectors Research Management LLC grew its holdings in Caterpillar by 5.9% in the 3rd quarter. Vectors Research Management LLC now owns 2,969 shares of the industrial products company’s stock worth $1,161,000 after acquiring an additional 165 shares during the last quarter. Black Diamond Financial LLC grew its holdings in Caterpillar by 38.0% in the 3rd quarter. Black Diamond Financial LLC now owns 955 shares of the industrial products company’s stock worth $373,000 after acquiring an additional 263 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Caterpillar by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 72,743 shares of the industrial products company’s stock worth $28,451,000 after acquiring an additional 3,051 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.6 %

NYSE:CAT traded down $2.25 on Friday, reaching $385.11. 281,499 shares of the stock traded hands, compared to its average volume of 2,605,344. The company has a market capitalization of $185.93 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.91 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12 month low of $241.81 and a 12 month high of $418.50. The company’s fifty day simple moving average is $379.68 and its 200 day simple moving average is $353.59.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.52 earnings per share. Equities analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. 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 is presently 26.15%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAT. Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Truist Financial raised their target price 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. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $321.00 to $365.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price 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. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $365.33.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’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 sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $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. Insiders sold 23,749 shares of company stock worth $9,251,912 over the last three months. 0.29% of the stock is currently owned by company insiders.

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.