Caterpillar Inc. (NYSE:CAT) Shares Sold by Frazier Financial Advisors LLC

Frazier Financial Advisors LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477 shares of the industrial products company’s stock after selling 32 shares during the period. Frazier Financial Advisors LLC’s holdings in Caterpillar were worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its holdings in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after buying an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after buying an additional 165,358 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after buying an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after purchasing an additional 198,123 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CAT shares. Citigroup lowered 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. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $321.00 to $365.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $365.33.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 16.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 3.65 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 23,749 shares of company stock worth $9,251,912 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $384.07 on Friday. The company’s fifty day moving average price is $381.86 and its 200 day moving average price is $354.07. Caterpillar Inc. has a 12 month low of $241.81 and a 12 month high of $418.50. 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 firm has a market capitalization of $185.43 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the business earned $5.52 earnings per share. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.68 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 $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. Caterpillar’s dividend payout ratio is presently 26.15%.

Caterpillar Company 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.