Hollow Brook Wealth Management LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Hollow Brook Wealth Management LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 582 shares of the industrial products company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DNB Asset Management AS purchased a new stake in shares of Caterpillar during the 2nd quarter worth $414,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth about $201,000. Fragasso Financial Advisors Inc increased its holdings in shares of Caterpillar by 12.8% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 836 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 95 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Caterpillar by 4.3% during the 2nd quarter. Fulton Bank N.A. now owns 1,710 shares of the industrial products company’s stock worth $570,000 after acquiring an additional 71 shares in the last quarter. Finally, Baker Ellis Asset Management LLC lifted its stake in Caterpillar by 7.0% during the second quarter. Baker Ellis Asset Management LLC now owns 1,527 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CAT shares. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Truist Financial increased their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $365.33.

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The trade was a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 17,589 shares of company stock valued at $7,113,953 over the last ninety days. Insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 0.1 %

NYSE:CAT opened at $406.51 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock has a market cap of $196.26 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. Caterpillar Inc. has a one year low of $252.42 and a one year high of $418.50. The business’s 50-day simple moving average is $391.37 and its 200 day simple moving average is $357.73.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $5.52 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.39%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

About Caterpillar

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.