Caterpillar Inc. (NYSE:CAT) Shares Acquired by Balentine LLC

Balentine LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 389.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,359 shares of the industrial products company’s stock after purchasing an additional 2,673 shares during the quarter. Balentine LLC’s holdings in Caterpillar were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar in the second quarter valued at about $28,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar during the 2nd quarter valued at approximately $36,000. POM Investment Strategies LLC boosted its stake in shares of Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC increased its stake in Caterpillar by 215.4% in the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,792 shares of company stock worth $3,515,978 in the last three months. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. 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. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Evercore ISI reduced their price target 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. Finally, Citigroup dropped their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $358.19.

Caterpillar Stock Up 1.8 %

CAT opened at $383.37 on Wednesday. Caterpillar Inc. has a 12 month low of $233.57 and a 12 month high of $403.60. The business has a 50-day moving average of $373.55 and a two-hundred day moving average of $351.65. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market capitalization of $185.90 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the firm posted $5.52 earnings per share. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts expect that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.47%. Caterpillar’s dividend payout ratio is presently 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.