Consolidated Capital Management LLC Trims Stock Position in Caterpillar Inc. (NYSE:CAT)

Consolidated Capital Management LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,808 shares of the industrial products company’s stock after selling 1,045 shares during the period. Caterpillar accounts for approximately 1.7% of Consolidated Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Consolidated Capital Management LLC’s holdings in Caterpillar were worth $3,836,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar in the 1st quarter valued at $27,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the second quarter worth about $28,000. Fairman Group LLC purchased a new position in shares of Caterpillar in the first quarter valued at approximately $29,000. Finally, Fairscale Capital LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAT. Truist Financial upped their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup boosted their price target on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus target price of $355.50.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase 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, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was 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 in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Caterpillar stock opened at $395.32 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm’s 50-day simple moving average is $361.58 and its 200 day simple moving average is $349.92. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The firm has a market capitalization of $193.33 billion, a PE ratio of 17.77, a P/E/G ratio of 1.85 and a beta of 1.10.

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

Caterpillar Announces Dividend

The firm 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. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is currently 25.46%.

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.