Caterpillar Inc. (NYSE:CAT) is Marco Investment Management LLC’s 8th Largest Position

Marco Investment Management LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 1.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 72,363 shares of the industrial products company’s stock after purchasing an additional 740 shares during the period. Caterpillar comprises approximately 2.4% of Marco Investment Management LLC’s holdings, making the stock its 8th largest position. Marco Investment Management LLC’s holdings in Caterpillar were worth $28,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Von Berge Wealth Management Group LLC purchased a new stake in shares of Caterpillar during the third quarter worth approximately $208,000. Capital Investment Counsel LLC raised its stake in shares of Caterpillar by 1.2% during the third quarter. Capital Investment Counsel LLC now owns 22,984 shares of the industrial products company’s stock worth $8,990,000 after purchasing an additional 263 shares during the last quarter. SevenBridge Financial Group LLC raised its stake in shares of Caterpillar by 6.2% during the third quarter. SevenBridge Financial Group LLC now owns 5,272 shares of the industrial products company’s stock worth $2,091,000 after purchasing an additional 308 shares during the last quarter. Journey Advisory Group LLC raised its stake in shares of Caterpillar by 2.1% during the third quarter. Journey Advisory Group LLC now owns 4,806 shares of the industrial products company’s stock worth $1,880,000 after purchasing an additional 100 shares during the last quarter. Finally, Borer Denton & Associates Inc. purchased a new stake in shares of Caterpillar during the third quarter worth approximately $216,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,774 shares of company stock valued at $8,233,034 over the last quarter. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. UBS Group upped their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Robert W. Baird upped their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Finally, Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Stock Up 2.0 %

Caterpillar stock opened at $397.49 on Friday. 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 firm has a market capitalization of $191.91 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $246.01 and a fifty-two week high of $418.50. The stock’s fifty day moving average is $386.81 and its two-hundred day moving average is $355.92.

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

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s payout ratio is currently 26.15%.

About Caterpillar

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.