CWA Asset Management Group LLC Purchases New Shares in Caterpillar Inc. (NYSE:CAT)

CWA Asset Management Group LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,915 shares of the industrial products company’s stock, valued at approximately $4,269,000.

A number of other institutional investors have also made changes to their positions in the business. Bbjs Financial Advisors LLC bought a new stake in Caterpillar during the 2nd quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth about $28,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $36,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar during the 3rd 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 institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CAT shares. Citigroup decreased their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. UBS Group boosted their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI dropped their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $362.40.

Insider Activity

In related news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $393.37 on Friday. Caterpillar Inc. has a 12-month low of $233.82 and a 12-month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The business’s 50-day moving average price is $376.80 and its two-hundred day moving average price is $352.75. The stock has a market cap of $190.74 billion, a PE ratio of 18.24, a P/E/G ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the firm earned $5.52 EPS. The business’s revenue was down 4.2% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 21.77 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

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.