LifePro Asset Management Takes $774,000 Position in Caterpillar Inc. (NYSE:CAT)

LifePro Asset Management purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,978 shares of the industrial products company’s stock, valued at approximately $774,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bradley Foster & Sargent Inc. CT increased its holdings in Caterpillar by 0.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 115,205 shares of the industrial products company’s stock worth $34,063,000 after acquiring an additional 711 shares during the period. Guardian Wealth Management Inc. increased its holdings in Caterpillar by 31.7% during the 4th quarter. Guardian Wealth Management Inc. now owns 2,192 shares of the industrial products company’s stock worth $648,000 after acquiring an additional 528 shares during the period. Groupama Asset Managment bought a new stake in Caterpillar during the 4th quarter worth approximately $10,078,000. Options Solutions LLC increased its holdings in Caterpillar by 8.2% during the 4th quarter. Options Solutions LLC now owns 2,110 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 160 shares during the period. Finally, Studio Investment Management LLC increased its holdings in Caterpillar by 22.6% during the 4th quarter. Studio Investment Management LLC now owns 16,153 shares of the industrial products company’s stock worth $4,776,000 after acquiring an additional 2,973 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Activity

In related 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 transaction, the insider now owns 33,442 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 in the last 90 days. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on CAT. UBS Group boosted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Barclays boosted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $347.56.

Caterpillar Stock Up 0.1 %

NYSE:CAT opened at $396.64 on Friday. The firm has a market cap of $192.33 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $401.17. The firm has a 50-day simple moving average of $354.51 and a two-hundred day simple moving average of $348.77.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $5.55 EPS. Analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is presently 25.68%.

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.