Oppenheimer Asset Management Inc. Has $20.17 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Oppenheimer Asset Management Inc. boosted its position in Caterpillar Inc. (NYSE:CAT) by 33.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,577 shares of the industrial products company’s stock after buying an additional 12,936 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Caterpillar were worth $20,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gibson Wealth Advisors LLC acquired a new stake in Caterpillar in the 3rd quarter worth $213,000. Hamel Associates Inc. grew its position in Caterpillar by 2.8% in the 3rd quarter. Hamel Associates Inc. now owns 2,478 shares of the industrial products company’s stock worth $969,000 after purchasing an additional 68 shares during the last quarter. Souders Financial Advisors grew its position in Caterpillar by 6.8% in the 3rd quarter. Souders Financial Advisors now owns 3,905 shares of the industrial products company’s stock worth $1,527,000 after purchasing an additional 248 shares during the last quarter. Haverford Trust Co grew its position in Caterpillar by 4.9% in the 3rd quarter. Haverford Trust Co now owns 6,210 shares of the industrial products company’s stock worth $2,429,000 after purchasing an additional 289 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in Caterpillar by 1.1% in the 3rd quarter. Empower Advisory Group LLC now owns 253,620 shares of the industrial products company’s stock worth $99,196,000 after purchasing an additional 2,880 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAT. UBS Group raised their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report 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 report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $321.00 to $365.00 in a report on Wednesday. Finally, Citigroup reduced their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $365.33.

Insider Buying and Selling

In related news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were 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 directly owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value 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 approximately $642,332.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. 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 over the last ninety days. Insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT traded down $6.15 during midday trading on Wednesday, hitting $386.86. The company had a trading volume of 356,386 shares, compared to its average volume of 2,614,030. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market capitalization of $186.78 billion, a PE ratio of 18.22, a P/E/G ratio of 1.96 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $241.81 and a twelve month high of $418.50. The firm’s 50-day simple moving average is $377.62 and its 200-day simple moving average is $353.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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). The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $5.52 earnings per share. Equities research analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared 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. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 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.