Caterpillar Inc. (NYSE:CAT) Shares Bought by Advocate Group LLC

Advocate Group LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,920 shares of the industrial products company’s stock after buying an additional 327 shares during the quarter. Advocate Group LLC’s holdings in Caterpillar were worth $7,009,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CAT. Vanguard Group Inc. raised its stake in shares of Caterpillar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Caterpillar by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock valued at $2,406,471,000 after acquiring an additional 173,108 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. Dimensional Fund Advisors LP raised its holdings in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after purchasing an additional 198,123 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.4 %

CAT stock traded down $1.69 during mid-day trading on Thursday, hitting $394.50. The stock had a trading volume of 202,160 shares, compared to its average volume of 2,647,567. The stock has a market capitalization of $192.93 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.73 and a beta of 1.10. The company has a fifty day moving average of $353.51 and a 200 day moving average of $348.44. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $401.17. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

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 analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted $5.55 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced 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 1.43%. Caterpillar’s payout ratio is presently 25.46%.

Caterpillar announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Evercore ISI reduced their price objective 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. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America raised 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 analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $347.56.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 over the last ninety days. Company insiders own 0.33% of the company’s stock.

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.