B & T Capital Management DBA Alpha Capital Management Sells 2,578 Shares of Caterpillar Inc. (NYSE:CAT)

B & T Capital Management DBA Alpha Capital Management lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,987 shares of the industrial products company’s stock after selling 2,578 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Caterpillar were worth $5,080,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $27,000. Fairman Group LLC bought a new stake in Caterpillar during the first quarter valued at about $29,000. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the second quarter valued at about $28,000. Financial Connections Group Inc. bought a new stake in Caterpillar during the second quarter valued at about $28,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Caterpillar in the fourth quarter worth about $27,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated 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 directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade 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 the SEC website. In other Caterpillar 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 transaction, the insider now owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of Caterpillar stock traded up $0.61 on Thursday, hitting $396.80. The company had a trading volume of 565,351 shares, compared to its average volume of 2,649,420. The business has a 50-day simple moving average of $354.51 and a 200-day simple moving average of $348.77. 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 company has a market cap of $194.06 billion, a PE ratio of 17.86, a PEG ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $401.17.

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

Caterpillar announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 1.42%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of research analyst reports. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial increased their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group increased their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and an average target price of $347.56.

Caterpillar Profile

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.