Concord Asset Management LLC VA Purchases 795 Shares of Caterpillar Inc. (NYSE:CAT)

Concord Asset Management LLC VA lifted its position in Caterpillar Inc. (NYSE:CAT) by 14.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,359 shares of the industrial products company’s stock after buying an additional 795 shares during the period. Concord Asset Management LLC VA’s holdings in Caterpillar were worth $2,487,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the 2nd quarter worth approximately $28,000. Fairscale Capital LLC purchased a new stake in Caterpillar during the 2nd quarter worth approximately $36,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the 3rd quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC raised its holdings in shares of Caterpillar by 2,160.0% in the second 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 last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.8 %

CAT opened at $384.07 on Friday. The company has a fifty day moving average of $381.86 and a two-hundred day moving average of $354.20. The stock has a market capitalization of $185.43 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.90 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 EPS. On average, research analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

CAT has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Barclays raised their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI lowered shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $321.00 to $365.00 in a research report on Wednesday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus target price of $365.33.

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.