Caterpillar Inc. (NYSE:CAT) Shares Purchased by Marco Investment Management LLC

Marco Investment Management LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,363 shares of the industrial products company’s stock after purchasing an additional 740 shares during the quarter. Caterpillar comprises approximately 2.4% of Marco Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Marco Investment Management LLC’s holdings in Caterpillar were worth $28,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar in the 2nd quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the 3rd quarter worth $36,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar in the 2nd quarter worth $36,000. Finally, POM Investment Strategies LLC increased its position in shares of Caterpillar by 2,160.0% during the 2nd 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 owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $397.49 on Friday. Caterpillar Inc. has a one year low of $246.01 and a one year high of $418.50. The company has a market cap of $191.91 billion, a PE ratio of 18.43, a P/E/G ratio of 1.92 and a beta of 1.10. 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 business has a 50-day simple moving average of $386.81 and a 200-day simple moving average of $355.92.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the firm posted $5.52 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Transactions at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction that occurred 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 directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Bank of America boosted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Robert W. Baird boosted their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar has a consensus 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.