Gemmer Asset Management LLC Sells 150 Shares of Caterpillar Inc. (NYSE:CAT)

Gemmer Asset Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 17.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 690 shares of the industrial products company’s stock after selling 150 shares during the period. Gemmer Asset Management LLC’s holdings in Caterpillar were worth $270,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairman Group LLC acquired a new stake in Caterpillar in the first quarter valued at $29,000. Bbjs Financial Advisors LLC acquired a new stake in Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar in the second quarter valued at $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar during the 2nd quarter worth about $36,000. Finally, POM Investment Strategies LLC grew its holdings in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other 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 transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred 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 owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI decreased their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $355.50.

Caterpillar Price Performance

Caterpillar stock opened at $387.86 on Monday. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The company’s 50 day moving average price is $368.57 and its two-hundred day moving average price is $350.66. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The stock has a market cap of $189.68 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.85 and a beta of 1.10.

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

Caterpillar Dividend Announcement

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 paid a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. Caterpillar’s payout ratio is currently 25.46%.

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.