Cassaday & Co Wealth Management LLC Sells 34 Shares of Caterpillar Inc. (NYSE:CAT)

Cassaday & Co Wealth Management LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,641 shares of the industrial products company’s stock after selling 34 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Caterpillar were worth $642,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Bbjs Financial Advisors LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. purchased a new position in Caterpillar during the second quarter valued at approximately $28,000. Fairscale Capital LLC bought a new position in Caterpillar in the second quarter worth approximately $36,000. Capital Performance Advisors LLP bought a new stake in Caterpillar during the 3rd quarter valued at $36,000. Finally, POM Investment Strategies LLC increased its holdings in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 20.71 % 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 valued at $9,251,912 in the last three months. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Up 0.1 %

NYSE:CAT opened at $384.53 on Tuesday. The firm has a market capitalization of $185.65 billion, a P/E ratio of 17.83, a PEG ratio of 1.90 and a beta of 1.10. The company’s fifty day moving average price is $381.86 and its 200-day moving average price is $354.37. Caterpillar Inc. has a 1-year low of $241.81 and a 1-year high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last released 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 net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the business posted $5.52 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar’s payout ratio is 26.15%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Truist Financial lifted their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and increased their target price for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted 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. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $365.33.

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.