Drake & Associates LLC Buys 214 Shares of Caterpillar Inc. (NYSE:CAT)

Drake & Associates LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 30.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 924 shares of the industrial products company’s stock after purchasing an additional 214 shares during the quarter. Drake & Associates LLC’s holdings in Caterpillar were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC raised its stake in shares of Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 26 shares during the last quarter. Trifecta Capital Advisors LLC raised its position in Caterpillar by 3.4% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 21,018 shares of the industrial products company’s stock valued at $8,221,000 after purchasing an additional 684 shares during the last quarter. Teamwork Financial Advisors LLC grew its holdings in shares of Caterpillar by 5.5% during the third quarter. Teamwork Financial Advisors LLC now owns 40,346 shares of the industrial products company’s stock worth $15,780,000 after purchasing an additional 2,087 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Caterpillar by 1.5% in the third quarter. Bleakley Financial Group LLC now owns 19,224 shares of the industrial products company’s stock valued at $7,519,000 after buying an additional 281 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Caterpillar by 2.2% in the third quarter. Global Retirement Partners LLC now owns 22,964 shares of the industrial products company’s stock valued at $8,982,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $394.54 on Friday. The firm has a market cap of $192.95 billion, a PE ratio of 17.81, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60. The company’s fifty day simple moving average is $362.75 and its 200-day simple moving average is $350.23. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.55 EPS. Equities research analysts expect that Caterpillar Inc. will post 21.91 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. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. UBS Group upped their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $355.50.

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.