BNC Wealth Management LLC Purchases 705 Shares of Caterpillar Inc. (NYSE:CAT)

BNC Wealth Management LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,024 shares of the industrial products company’s stock after acquiring an additional 705 shares during the period. Caterpillar makes up approximately 1.4% of BNC Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. BNC Wealth Management LLC’s holdings in Caterpillar were worth $3,921,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the 2nd quarter valued at about $28,000. Fairscale Capital LLC acquired a new position in Caterpillar during the second quarter worth approximately $36,000. POM Investment Strategies LLC raised its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares during the period. Finally, TruNorth Capital Management LLC lifted its position in shares of Caterpillar by 215.4% in the second quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock valued at $41,000 after buying an additional 84 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAT shares. Truist Financial upped their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. UBS Group boosted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Citigroup dropped their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Three equities 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $358.19.

Caterpillar Stock Up 8.8 %

Shares of NYSE:CAT opened at $416.97 on Thursday. The business’s 50-day moving average is $374.93 and its 200-day moving average is $352.11. Caterpillar Inc. has a 1 year low of $233.57 and a 1 year high of $418.30. The company has a market capitalization of $202.19 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.86 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS 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 last year, the business earned $5.52 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Dividend Announcement

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. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.35%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In related 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 value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,792 shares of company stock valued at $3,515,978 in the last 90 days. 0.29% of the stock is currently 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.