Caterpillar Inc. (NYSE:CAT) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 26.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,216 shares of the industrial products company’s stock after purchasing an additional 1,743 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Caterpillar were worth $3,213,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Diversified LLC grew its position in Caterpillar by 2.9% in the 3rd quarter. Diversified LLC now owns 2,181 shares of the industrial products company’s stock worth $853,000 after purchasing an additional 61 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in Caterpillar by 31.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 13,250 shares of the industrial products company’s stock worth $5,182,000 after buying an additional 3,142 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Caterpillar by 120.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,854 shares of the industrial products company’s stock valued at $1,507,000 after acquiring an additional 2,105 shares in the last quarter. Davis R M Inc. boosted its position in Caterpillar by 15.5% during the 3rd quarter. Davis R M Inc. now owns 3,601 shares of the industrial products company’s stock worth $1,409,000 after acquiring an additional 482 shares during the period. Finally, Prosperity Financial Group Inc. grew its stake in shares of Caterpillar by 4.8% in the third quarter. Prosperity Financial Group Inc. now owns 1,890 shares of the industrial products company’s stock worth $739,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CAT shares. Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $321.00 to $365.00 in a report on Wednesday, November 13th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Citigroup cut their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Bank of America lifted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Price Performance

CAT stock opened at $401.50 on Monday. Caterpillar Inc. has a one year low of $246.01 and a one year high of $418.50. The firm has a 50-day moving average of $386.81 and a two-hundred day moving average of $356.00. The firm has a market capitalization of $193.84 billion, a PE ratio of 18.43, a P/E/G ratio of 1.96 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

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

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling

In related news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,774 shares of company stock valued at $8,233,034. Corporate insiders own 0.29% of the company’s stock.

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.