Caterpillar Inc. (NYSE:CAT) Position Increased by Kerusso Capital Management LLC

Kerusso Capital Management LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,585 shares of the industrial products company’s stock after buying an additional 276 shares during the quarter. Kerusso Capital Management LLC’s holdings in Caterpillar were worth $1,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after buying an additional 165,358 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in Caterpillar by 6.3% during the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after buying an additional 119,326 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of CAT stock opened at $393.37 on Friday. Caterpillar Inc. has a 12-month low of $233.82 and a 12-month high of $418.50. The firm has a market capitalization of $190.75 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average of $376.80 and a 200-day moving average of $352.75.

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). 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 analyst estimates of $16.37 billion. During the same period last year, the firm earned $5.52 EPS. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

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 $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup lowered their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $362.40.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction 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 directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction 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 directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,749 shares of company stock valued at $9,251,912. Company insiders own 0.29% of the company’s stock.

Caterpillar 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.