OneAscent Wealth Management LLC Purchases New Holdings in Caterpillar Inc. (NYSE:CAT)

OneAscent Wealth Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,900 shares of the industrial products company’s stock, valued at approximately $743,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC bought a new position in Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. bought a new position in Caterpillar during the 2nd quarter valued at about $28,000. Fairscale Capital LLC bought a new position in Caterpillar during the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the 3rd quarter worth about $36,000. Finally, POM Investment Strategies LLC grew its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 0.2 %

NYSE:CAT traded up $0.67 during midday trading on Monday, reaching $384.74. 109,525 shares of the stock traded hands, compared to its average volume of 2,602,600. Caterpillar Inc. has a 12-month low of $241.81 and a 12-month high of $418.50. The business has a 50-day moving average of $381.86 and a two-hundred day moving average of $354.37. 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 stock has a market capitalization of $185.75 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the previous year, the company earned $5.52 EPS. The company’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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 issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the firm’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 completion of the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,749 shares of company stock valued at $9,251,912. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAT. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Morgan Stanley downgraded 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 note on Monday, October 14th. Bank of America upped their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $365.33.

Caterpillar Company 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.