Caterpillar Inc. (NYSE:CAT) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 40,516 shares of the industrial products company’s stock after selling 2,104 shares during the period. Cullinan Associates Inc.’s holdings in Caterpillar were worth $15,806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. Fairman Group LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $29,000. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar in the 2nd quarter valued at $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar during the 2nd quarter worth $28,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $36,000. Finally, POM Investment Strategies LLC increased its position in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred 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 directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America increased their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI cut their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. UBS Group upped their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three 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, the company presently has a consensus rating of “Hold” and an average price target of $355.50.

Caterpillar Stock Up 0.7 %

Shares of NYSE CAT traded up $2.67 during mid-day trading on Friday, hitting $389.73. The company had a trading volume of 149,209 shares, compared to its average volume of 2,615,399. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The company has a market capitalization of $190.60 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The business’s 50-day simple moving average is $367.72 and its 200 day simple moving average is $350.86.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter last year, the business posted $5.55 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given 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 dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

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.