Global Retirement Partners LLC Grows Stake in Caterpillar Inc. (NYSE:CAT)

Global Retirement Partners LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,964 shares of the industrial products company’s stock after purchasing an additional 498 shares during the quarter. Global Retirement Partners LLC’s holdings in Caterpillar were worth $8,982,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Pacifica Partners Inc. grew its position 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 in the last quarter. Souders Financial Advisors grew its position 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 in the last quarter. Southland Equity Partners LLC grew its position in shares of Caterpillar by 4.0% during the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 30 shares in the last quarter. Davis Investment Partners LLC grew its position in shares of Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 30 shares in the last quarter. Finally, Hilltop National Bank grew its holdings in Caterpillar by 1.2% during the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAT. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays raised their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Citigroup raised their price target on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Bank of America raised their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. 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. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $355.50.

Caterpillar Trading Up 0.1 %

Shares of CAT stock traded up $0.34 on Thursday, reaching $393.96. 516,744 shares of the company’s stock were exchanged, compared to its average volume of 2,636,412. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week 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 capitalization of $192.67 billion, a PE ratio of 17.80, a P/E/G ratio of 1.85 and a beta of 1.10. The company’s fifty day simple moving average is $361.58 and its 200 day simple moving average is $349.92.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $5.55 EPS. As a group, analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

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 given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.