Caterpillar Inc. (NYSE:CAT) Shares Sold by McClarren Financial Advisors Inc.

by · The Markets Daily

McClarren Financial Advisors Inc. trimmed its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 41.0% in the third quarter, HoldingsChannel.com reports. The fund owned 393 shares of the industrial products company’s stock after selling 273 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Caterpillar were worth $154,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CAT. Canada Pension Plan Investment Board raised its holdings in shares of Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after acquiring an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd increased its stake in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares during the last quarter. Swedbank AB acquired a new position in Caterpillar in the first quarter valued at $97,042,000. Capital International Investors increased its stake in Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after purchasing an additional 200,134 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Down 0.2 %

CAT traded down $0.63 on Friday, reaching $393.86. The company’s stock had a trading volume of 3,024,091 shares, compared to its average volume of 2,638,629. The stock has a market cap of $192.62 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The business’s 50 day moving average is $363.86 and its 200 day moving average is $350.34.

Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during 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%. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.55 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several analyst reports. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their price target on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Raymond James began coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Three 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. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $355.50.

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Caterpillar Profile

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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.

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