Kimelman & Baird LLC Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Kimelman & Baird LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 42.9% during the third quarter, Holdings Channel reports. The institutional investor owned 100 shares of the industrial products company’s stock after buying an additional 30 shares during the period. Kimelman & Baird LLC’s holdings in Caterpillar were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CAT. Lantz Financial LLC boosted its position in shares of Caterpillar by 2.9% in the second quarter. Lantz Financial LLC now owns 4,181 shares of the industrial products company’s stock worth $1,393,000 after purchasing an additional 116 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of Caterpillar by 15.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,941 shares of the industrial products company’s stock valued at $959,000 after buying an additional 394 shares in the last quarter. Aspire Private Capital LLC boosted its holdings in Caterpillar by 7.1% in the 2nd quarter. Aspire Private Capital LLC now owns 3,170 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 211 shares during the period. D.B. Root & Company LLC raised its holdings in Caterpillar by 16.7% during the second quarter. D.B. Root & Company LLC now owns 868 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 124 shares during the period. Finally, Occidental Asset Management LLC lifted its position in shares of Caterpillar by 4.7% in the second quarter. Occidental Asset Management LLC now owns 10,331 shares of the industrial products company’s stock valued at $3,441,000 after acquiring an additional 462 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

NYSE:CAT opened at $395.03 on Friday. The firm has a market capitalization of $190.72 billion, a PE ratio of 18.31, a PEG ratio of 1.97 and a beta of 1.10. The stock’s fifty day moving average is $392.84 and its 200 day moving average is $359.16. Caterpillar Inc. has a fifty-two week low of $255.81 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share 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 firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the company earned $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group lifted their target price on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial lifted their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird increased 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. Finally, JPMorgan Chase & Co. boosted their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $372.19.

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the sale, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 in the last quarter. 0.29% of the stock is owned by insiders.

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.