Caterpillar Inc. (NYSE:CAT) Position Boosted by Tacita Capital Inc

by · The Markets Daily

Tacita Capital Inc raised its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 23.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259 shares of the industrial products company’s stock after buying an additional 50 shares during the quarter. Tacita Capital Inc’s holdings in Caterpillar were worth $101,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAT. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter worth $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the second quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in Caterpillar in the third quarter worth about $36,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the second quarter worth about $36,000. Finally, POM Investment Strategies LLC grew its position in shares of Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of CAT stock traded up $4.78 during trading hours on Monday, hitting $398.15. The stock had a trading volume of 443,450 shares, compared to its average volume of 2,621,914. The stock’s 50-day moving average price is $376.80 and its two-hundred day moving average price is $352.60. 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 Inc. has a one year low of $238.88 and a one year high of $418.50. The stock has a market capitalization of $192.23 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.94 and a beta of 1.10.

Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.52 EPS. Equities analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The business 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 1.42%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction 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 completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAT. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Evercore ISI reduced their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Citigroup reduced their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $362.40.

View Our Latest Analysis on CAT

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.

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