Brooklyn Investment Group Has $1.09 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Brooklyn Investment Group grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,785 shares of the industrial products company’s stock after buying an additional 136 shares during the quarter. Brooklyn Investment Group’s holdings in Caterpillar were worth $1,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC raised its holdings in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the last quarter. First Affirmative Financial Network purchased a new position in Caterpillar during the third quarter worth about $204,000. Inspire Advisors LLC grew its position in Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Jackson Square Capital LLC increased its stake in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after buying an additional 4,182 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the company from $321.00 to $365.00 in a research report on Wednesday. Barclays boosted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial raised their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Performance

CAT stock traded down $3.36 during midday trading on Friday, reaching $384.00. 561,838 shares of the company’s stock traded hands, compared to its average volume of 2,606,606. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The company has a 50-day moving average price of $380.76 and a two-hundred day moving average price of $353.83. 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 capitalization of $185.40 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10.

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

Caterpillar Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.47%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Buying and Selling

In other news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 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 8.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,749 shares of company stock valued at $9,251,912. Company insiders own 0.29% of the company’s stock.

About Caterpillar

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.