Hamel Associates Inc. Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Hamel Associates Inc. raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,478 shares of the industrial products company’s stock after purchasing an additional 68 shares during the quarter. Hamel Associates Inc.’s holdings in Caterpillar were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CAT. Acadian Asset Management LLC increased its stake in Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares during the last quarter. Alpha Cubed Investments LLC boosted its holdings in shares of Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares during the period. First Affirmative Financial Network bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $204,000. Inspire Advisors LLC raised its holdings in Caterpillar by 25.8% during the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC boosted its stake in Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after buying an additional 4,182 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock worth $9,251,912 over the last three months. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Stock Down 0.9 %

Caterpillar stock opened at $393.08 on Wednesday. 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 market cap of $189.78 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.96 and a beta of 1.10. The business has a fifty day moving average of $377.62 and a two-hundred day moving average of $353.01. Caterpillar Inc. has a twelve month low of $238.88 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.52 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CAT shares. UBS Group increased their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Truist Financial raised their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Bank of America increased their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $365.33.

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.