Gilliland Jeter Wealth Management LLC Sells 203 Shares of Caterpillar Inc. (NYSE:CAT)

Gilliland Jeter Wealth Management LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,160 shares of the industrial products company’s stock after selling 203 shares during the quarter. Caterpillar comprises approximately 1.6% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. Gilliland Jeter Wealth Management LLC’s holdings in Caterpillar were worth $5,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAT. Brown Lisle Cummings Inc. lifted its stake in shares of Caterpillar by 6.4% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 2,490 shares of the industrial products company’s stock valued at $974,000 after purchasing an additional 150 shares during the period. Calton & Associates Inc. acquired a new position in Caterpillar in the third quarter valued at approximately $3,911,000. Allspring Global Investments Holdings LLC grew its position in shares of Caterpillar by 9.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,400 shares of the industrial products company’s stock worth $43,571,000 after buying an additional 9,572 shares during the period. Compass Ion Advisors LLC increased its stake in shares of Caterpillar by 5.3% in the 3rd quarter. Compass Ion Advisors LLC now owns 2,989 shares of the industrial products company’s stock valued at $1,169,000 after acquiring an additional 150 shares in the last quarter. Finally, Vest Financial LLC boosted its stake in Caterpillar by 24.1% during the third quarter. Vest Financial LLC now owns 149,172 shares of the industrial products company’s stock worth $58,344,000 after acquiring an additional 29,011 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the insider now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $393.86 on Monday. The firm has a market capitalization of $192.62 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The business’s fifty day simple moving average is $363.86 and its 200 day simple moving average is $350.16. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $403.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.55 EPS. As a group, analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research reports. Evercore ISI dropped their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Truist Financial boosted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America lifted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus target price of $355.50.

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.