Lifeworks Advisors LLC Acquires 262 Shares of Caterpillar Inc. (NYSE:CAT)

Lifeworks Advisors LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,260 shares of the industrial products company’s stock after buying an additional 262 shares during the period. Lifeworks Advisors LLC’s holdings in Caterpillar were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the third quarter valued at about $36,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar in the second quarter valued at about $36,000. Finally, POM Investment Strategies LLC raised its holdings in shares of Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar 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 in the company, valued at $29,171,646.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,749 shares of company stock worth $9,251,912. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. 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 report on Monday, November 4th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. 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. Finally, Bank of America raised their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average target price of $365.33.

Caterpillar Stock Performance

Shares of CAT traded up $0.73 during trading hours on Thursday, hitting $387.80. The company’s stock had a trading volume of 177,589 shares, compared to its average volume of 2,610,452. The company has a market cap of $187.23 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.94 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The business has a 50 day simple moving average of $379.68 and a two-hundred day simple moving average of $353.59. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50.

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). 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 the consensus estimate of $16.37 billion. During the same quarter last year, the business posted $5.52 earnings per share. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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 given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

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.