Means Investment CO. Inc. Has $1.21 Million Position in Caterpillar Inc. (NYSE:CAT)

Means Investment CO. Inc. grew its position in Caterpillar Inc. (NYSE:CAT) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,080 shares of the industrial products company’s stock after buying an additional 81 shares during the quarter. Means Investment CO. Inc.’s holdings in Caterpillar were worth $1,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc increased its position in Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares in the last quarter. Ameriprise Financial Inc. increased its position in Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after purchasing an additional 198,123 shares in the last quarter. Capital Research Global Investors increased its position in Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares in the last quarter. Finally, Capital Wealth Planning LLC increased its position in Caterpillar by 6.4% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock worth $460,162,000 after purchasing an additional 83,571 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CAT. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Evercore ISI reduced their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup boosted their target price on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $355.50.

Caterpillar Stock Down 0.2 %

Shares of NYSE CAT opened at $393.86 on Friday. The firm has a market cap of $192.62 billion, a PE ratio of 17.78, a P/E/G ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The company’s fifty day simple moving average is $363.86 and its 200 day simple moving average is $350.34. 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 (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.55 earnings per share. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 25.46%.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now 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. Corporate insiders own 0.33% of the company’s stock.

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.