Caterpillar Inc. (NYSE:CAT) Shares Bought by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 465 shares of the industrial products company’s stock after acquiring an additional 93 shares during the period. Bruce G. Allen Investments LLC’s holdings in Caterpillar were worth $182,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAT. Acadian Asset Management LLC grew its stake in shares of Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares during the period. Alpha Cubed Investments LLC grew its stake in shares of Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at approximately $926,000. Natixis Advisors LLC grew its stake in shares of Caterpillar by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after buying an additional 9,321 shares during the period. Finally, Bailard Inc. grew its stake in shares of Caterpillar by 3.1% in the 2nd quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after buying an additional 398 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 2.1 %

Shares of Caterpillar stock opened at $396.19 on Thursday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $401.17. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The company has a market capitalization of $193.76 billion, a P/E ratio of 17.89, a PEG ratio of 1.73 and a beta of 1.10. The company’s fifty day moving average is $353.51 and its two-hundred day moving average is $348.44.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) 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 net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $5.55 EPS. Analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. Caterpillar’s payout ratio is 25.46%.

Caterpillar declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAT shares. 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 report on Monday, August 19th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group increased their target price on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $347.56.

Insider Activity

In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. 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 accessible through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on 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 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. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.