Cornerstone Wealth Management LLC Buys 126 Shares of Caterpillar Inc. (NYSE:CAT)

Cornerstone Wealth Management LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,903 shares of the industrial products company’s stock after acquiring an additional 126 shares during the period. Cornerstone Wealth Management LLC’s holdings in Caterpillar were worth $1,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar during the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new stake in shares of Caterpillar during the second quarter valued at approximately $28,000. Fairman Group LLC bought a new position in Caterpillar in the first quarter worth approximately $29,000. Finally, Fairscale Capital LLC bought a new position in Caterpillar in the second quarter worth approximately $36,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of a number of recent research reports. Raymond James initiated coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average target price of $355.50.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were 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 in the company, 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 owned by corporate insiders.

Caterpillar Price Performance

Shares of CAT opened at $394.54 on Friday. The firm has a market capitalization of $192.95 billion, a PE ratio of 17.81, 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. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The company’s fifty day moving average price is $362.75 and its 200-day moving average price is $350.23.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $5.55 earnings per share. On average, equities research analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Announces Dividend

The firm 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. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

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.