Caterpillar Inc. (NYSE:CAT) Stock Position Decreased by Tidal Investments LLC

Tidal Investments LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,056 shares of the industrial products company’s stock after selling 3,496 shares during the period. Tidal Investments LLC’s holdings in Caterpillar were worth $10,582,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar in the 3rd quarter valued at approximately $36,000. Fairscale Capital LLC bought a new position in Caterpillar in the 2nd quarter worth approximately $36,000. Kimelman & Baird LLC increased its position in Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares during the period. Finally, POM Investment Strategies LLC increased its position 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 buying an additional 108 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 2.1 %

CAT stock opened at $380.68 on Friday. The company has a market cap of $183.79 billion, a P/E ratio of 17.65, a PEG ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $259.28 and a twelve month high of $418.50. 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 business has a fifty day moving average of $392.83 and a 200-day moving average of $360.00.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.52 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. Caterpillar’s dividend payout ratio is presently 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial boosted their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $374.69.

Insider Activity at Caterpillar

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is owned by insiders.

Caterpillar Company 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.