Opal Wealth Advisors LLC Sells 44 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Opal Wealth Advisors LLC lessened its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 2.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,656 shares of the industrial products company’s stock after selling 44 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Caterpillar were worth $648,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in Caterpillar in the fourth quarter worth $27,000. Thompson Investment Management Inc. bought a new position in Caterpillar during the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar in the 2nd quarter valued at $28,000. Finally, Fairman Group LLC bought a new position in shares of Caterpillar during the 1st quarter valued at $29,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.5 %

Shares of NYSE CAT opened at $388.05 on Wednesday. The stock has a market cap of $189.78 billion, a P/E ratio of 17.52, 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 firm has a 50-day moving average of $360.22 and a 200 day moving average of $349.61.

Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.55 EPS. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Raymond James assumed coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI lowered their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $355.50.

Get Our Latest Analysis on Caterpillar

Caterpillar Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT – Free Report).