Verity Asset Management Inc. Has $992,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Verity Asset Management Inc. lowered its position in Caterpillar Inc. (NYSE:CAT) by 21.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,560 shares of the industrial products company’s stock after selling 694 shares during the quarter. Verity Asset Management Inc.’s holdings in Caterpillar were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in shares of Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 1,327 shares during the last quarter. Alpha Cubed Investments LLC raised its position in shares of Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after acquiring an additional 6,212 shares during the last quarter. First Affirmative Financial Network acquired a new position in shares of Caterpillar in the third quarter worth approximately $204,000. Inspire Advisors LLC boosted its holdings in Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Caterpillar by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI cut their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three equities 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $358.19.

Insiders Place Their Bets

In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,092 shares of company stock valued at $4,059,378 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $408.21 on Friday. Caterpillar Inc. has a 52 week low of $233.82 and a 52 week high of $418.50. The company has a market cap of $197.94 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The business has a 50 day moving average price of $376.06 and a 200-day moving average price of $352.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $5.52 EPS. Equities analysts anticipate that Caterpillar Inc. will post 21.77 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed 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 1.38%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio 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.