Intelligence Driven Advisers LLC Takes $232,000 Position in Caterpillar Inc. (NYSE:CAT)

Intelligence Driven Advisers LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 593 shares of the industrial products company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Acadian Asset Management LLC raised its position in shares of Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC increased its stake in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares during the last quarter. First Affirmative Financial Network bought a new position in shares of Caterpillar in the 3rd quarter worth about $204,000. Inspire Advisors LLC boosted its holdings in shares of Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC grew its position in shares of Caterpillar by 33.7% during the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after buying an additional 4,182 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research reports. Citigroup decreased their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $321.00 to $365.00 in a research note on Wednesday. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $365.33.

Caterpillar Price Performance

Shares of CAT stock traded up $1.33 during mid-day trading on Thursday, hitting $388.40. 96,956 shares of the stock traded hands, compared to its average volume of 2,610,088. 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 firm has a market cap of $187.52 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The company’s 50-day simple moving average is $379.68 and its 200-day simple moving average is $353.59. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the firm posted $5.52 earnings per share. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was 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 the SEC website. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,749 shares of company stock valued at $9,251,912. Corporate insiders own 0.29% of the company’s stock.

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.