Asset Management Group Inc. Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Asset Management Group Inc. reduced its position in Caterpillar Inc. (NYSE:CAT) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,739 shares of the industrial products company’s stock after selling 318 shares during the quarter. Asset Management Group Inc.’s holdings in Caterpillar were worth $4,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Alpha Cubed Investments LLC grew its position in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after purchasing an additional 6,212 shares in the last quarter. First Affirmative Financial Network purchased a new position in shares of Caterpillar in the third quarter valued at $204,000. Inspire Advisors LLC grew its position in shares of 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 purchasing an additional 1,694 shares in the last quarter. Jackson Square Capital LLC grew its position in shares of Caterpillar by 33.7% in the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after purchasing an additional 4,182 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Caterpillar by 3.5% in the second 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 in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 2.3 %

CAT stock opened at $390.26 on Friday. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The business’s 50 day moving average price is $385.77 and its two-hundred day moving average price is $355.46. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market capitalization of $188.42 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $5.52 EPS. As a group, analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were given a $1.41 dividend. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAT. Robert W. Baird lifted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays lifted 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. Finally, Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $365.33.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 8.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is owned by corporate insiders.

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.