Thomas Story & Son LLC Sells 350 Shares of Caterpillar Inc. (NYSE:CAT)

09 Nov 2024, 18:50 by Danessa Lincoln · The Markets Daily

Thomas Story & Son LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 20.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,350 shares of the industrial products company’s stock after selling 350 shares during the quarter. Thomas Story & Son LLC’s holdings in Caterpillar were worth $528,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at $28,000. Fairscale Capital LLC bought a new position in Caterpillar in the 2nd quarter worth $36,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the 3rd quarter worth $36,000. Finally, POM Investment Strategies LLC boosted its holdings in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of the business’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 value of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 23,749 shares of company stock valued at $9,251,912. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CAT. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. UBS Group upped their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised 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, October 14th. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $362.40.

Check Out Our Latest Research Report on CAT

Caterpillar Price Performance

Caterpillar stock opened at $393.37 on Friday. The business has a 50 day simple moving average of $376.80 and a 200 day simple moving average of $352.75. Caterpillar Inc. has a one year low of $233.82 and a one year high of $418.50. The company has a market capitalization of $190.74 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the business posted $5.52 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.77 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s dividend payout ratio is 26.15%.

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.