Caterpillar Inc. (NYSE:CAT) Shares Acquired by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 12.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,229 shares of the industrial products company’s stock after acquiring an additional 245 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Caterpillar were worth $872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the second quarter worth $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar in the second quarter valued at $36,000. POM Investment Strategies LLC boosted its holdings in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the period. Finally, TruNorth Capital Management LLC increased its holdings in Caterpillar by 215.4% during the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 0.7 %

Shares of NYSE CAT opened at $387.77 on Wednesday. The firm has a 50-day moving average price of $370.38 and a 200 day moving average price of $350.94. The stock has a market capitalization of $189.64 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the previous year, the business earned $5.55 earnings per share. Caterpillar’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Insider Activity

In other news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, 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. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several recent research reports. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI decreased 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. Barclays increased their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $355.50.

Caterpillar Company 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.