Caterpillar Inc. (NYSE:CAT) Shares Purchased by Avitas Wealth Management LLC

Avitas Wealth Management LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.7% in the third quarter, Holdings Channel.com reports. The fund owned 9,464 shares of the industrial products company’s stock after buying an additional 156 shares during the quarter. Avitas Wealth Management LLC’s holdings in Caterpillar were worth $3,702,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar during the 2nd quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the second quarter worth approximately $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the second quarter valued at approximately $36,000. POM Investment Strategies LLC boosted its stake in Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the period. Finally, TruNorth Capital Management LLC grew its position in Caterpillar by 215.4% during the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 84 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated 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 in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated 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 directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $387.77 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The company has a market cap of $189.64 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The stock has a 50-day moving average of $370.38 and a 200-day moving average of $350.94. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the prior year, the business earned $5.55 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAT. Barclays raised their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised 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, Bank of America increased their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $355.50.

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.